Montreal, January 27th, 2021 – A first round of funding of $1.35M will allow ChrysaLabs to take further steps in the development of its soil fertility analysis solution. Designed to provide the various agronomic parameters of a soil in real time, ChrysaLabs’ solution is an essential tool for precision agriculture to increase yields and optimize the use of fertilizers.
At the cutting edge of technology, ChrysaLabs combines artificial intelligence, optics, cloud computing, as well as a database of thousands of soil samples to provide agronomists and growers with the information needed to make better decisions faster. The result of several years of research and field trials in North America, the solution developed by ChrysaLabs now enables the ag community to better manage soil health and fertility.
Led by the Ecofuel investment fund, supported by Premier Tech and Anges Québec, this funding will allow ChrysaLabs to continue its commercialization in collaboration with stakeholders in the agricultural sector, both in Canada and in the USA.
“Growers should be delighted with the commercialization of this innovation which will allow them to save time and money, in addition to strengthening food security sought in several countries”, said Richard Cloutier, Managing Partner of the Ecofuel Fund.
“The tools currently available to agronomists and growers do not allow them to properly manage soil health and fertility, which generate tremendous economic and environmental impacts. The technology we are developing alleviates the problems of lack of soil data and supports the industry for a more prosperous and sustainable agriculture ” mentioned Samuel Fournier, Co-Founder and CEO of ChrysaLabs.
About Ecofuel Fund
The Ecofuel Fund supports entrepreneurs and invests smart capital in startup companies that develop and commercialize clean technologies. www.fondsecofuel.ca
About Premier Tech
At Premier Tech, people and technologies connect in lasting, transformative ways, giving life to products and services that help feed, protect, and improve our world. www.premiertech.com
About Anges Québec
Anges Québec, the largest network of angel investors in Canada, has more than 230 members who invest value-added capital in innovative Québec companies with high growth potential. www.angesquebec.com
ChrysaLabs develops an accurate, affordable, and real-time soil fertility assessment solution for precision agriculture, enabling growers and agronomists to increase yields and optimize the use of fertilizers. www.chrysalabs.com
Samuel Fournier, CEO
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