Trace Genomics – an industry leader in DNA-based soil intelligence – announced its successful Series B funding round at $10.5 million led by existing investors S2G Ventures and Ajax Strategies, and new investor Rabo Ventures. The funding round exceeded expectations and demonstrated strong investor confidence in Trace’s trajectory and growth strategy. With this funding round, Trace plans to expand its commercial growth, making its offerings available to more farmers and agronomists.
Trace Genomics developed a groundbreaking way to understand what’s happening beneath the surface of our farms. And by examining the DNA of organisms in soil, farmers can get an individualized and detailed picture of soil health.
This approach highlights what’s going on with the soil right now and also helps farmers make better decisions for their crops in the future. And Trace Genomics helps farmers identify potential diseases before they become a problem, understand the soil’s fertility levels, and offer personalized recommendations to improve crop health and yield. This means farmers are able to grow more with less, using the optimal biologicals and chemicals, and making farming more sustainable for all.
Between 2024 and 2025, Trace is set to broaden its reach, aiming to deliver its pioneering data and insights to an increased number of growers and agronomists, building on both existing and new partnerships. To support this growth, the company is delighted to announce the addition of two key leaders to its team, significantly enhancing commercial capabilities. And Adam Burnhams joins as the Chief Marketing Officer, bringing over 30 years of global agribusiness experience, encompassing sales, marketing, research, and development roles across startups, basic, and post-patent companies. Tim Yandel joins as the Chief Revenue Officer, a seasoned sales professional with 20 years of experience, including 15 years in leadership positions and expertise in machine learning, AI, computer vision, big data, marketing tech, and climate tech.
This strategic expansion builds on last year’s successes, which included the launch of its flagship product TraceCOMPLETE, the establishment of key commercial partnerships in the US and Canada, the refinement of its commercial strategy for enhanced market penetration, and compelling success stories from farmers and agronomists about how Trace’s insights have improved their financial outcomes.
KEY QUOTES:
“The Series B funding represents a pivotal milestone for Trace, positioning us to accelerate our reach with cutting-edge soil DNA intelligence solutions, and advancing sustainable agriculture with a focus on farmer profitability. Our commitment to providing customers with innovative technology and comprehensive support with operational excellence aims to improve agricultural business outcomes and boost productivity for farmers and agronomists.”
- Poornima Parameswaran, CEO and Co-founder of Trace
“We’re excited to partner with Trace as they continue to advance and scale their technology. Their innovation provides deep soil insights, fostering sustainable crop production and improved decision-making across the agricultural value chain. Trace Genomics empowers farmers, manufacturers, and agronomists with better risk assessment and demand forecasting, leading to enhanced yield and cost management.”
- Cristina Rohr, Managing Director at S2G Ventures
“While it’s widely acknowledged that the soil microbiome significantly impacts crop outcomes, soil-biology analysis has historically been underutilized in agronomists’ toolkits due to cost, complexity, and time requirements. However, Trace’s cutting-edge soil intelligence platform has successfully addressed these challenges. As a result, it provides growers with an unprecedented level of insight and truly data-driven recommendations. We are excited by the paradigm shift that Trace brings to agriculture – unlocking the power of biologicals while enabling the adoption of NUE solutions, and making pest management predictive.”
- Shishir Sinha, Investment Director at Rabo Ventures
