Richfield Ag Tech Firm Sentera Lands $25M Raise
Richfield-based ag tech firm Sentera has raised $25 million in a Series C funding round.
In a news release issued last week, CEO Eric Taipale said the funds will help “increase our development velocity and broaden our industry partnerships.” Founded in 2014, the company sells a software platform known as FieldAgent that uses drone sensors and other technology to help farmers evaluate crop health and detect any problems.
To date, Sentera has raised a total of $50 million. The latest fundraising round included a familiar investor: Chicago-based S2G Ventures, which led another round back in 2018. Canadian institutional investor and pension manager Caisse de depot et placement du Quebec co-led the latest round.
Other returning investors included New York-based Continental Grain Co., St. Louis-based iSelect Fund, and Washington, D.C.-based Middleland Capital.
“Sentera continues to demonstrate that they can deliver greater efficiency across the agricultural supply chain through innovation and integration,” said Sanjeev Krishnan, S2G’s chief investment officer and managing director.
In March, the company was chosen to participate in a new ag-focused accelerator led by MBOLD, a coalition of major food and ag organizations in Minnesota.
Meanwhile, Sentera’s CEO told the Star Tribune that the company is relocating from Richfield to St. Paul’s Midway neighborhood. Taipale said he landed on that location because the company’s younger workforce was looking for a more transit-friendly location between Minneapolis and St. Paul.