Agriculture insights startup Sentera has raised a $25 million round of venture capital, it announced Wednesday.
The round was Sentera's Series C, or its third round of institutional capital. It was led by Caisse de dépôt et placement du Québec (CDPQ) and S2G Ventures. New participating investors included Maryland-based Akroyd and Mexico City-based KuE Capital.
Existing investors participating in the round included Chicago-based S2G Ventures, New York City-based Continental Grain Co., St. Louis-based iSelect Fund and Washington D.C.-based Middleland Capital.
Richfield-based Sentera makes software that help the agricultural industry gather insights and data about their crops.It makes drones that hover above fields and take pictures that can be viewed on a companion app. It also makes sensors that gather information in the field. Sentera's products are used in more than 70 countries and on millions of acres of farmable land.
"This investment gives us the ability to increase our development velocity and broaden our industry partnerships, further improving the outcomes our customers are able to achieve," Sentera CEO Eric Taipale said in a statement.
Sentera had previously raised a $14 million round of venture capital in 2018 and an $8.5 million round in 2016.
The Star Tribune reports that Sentera will relocate to St. Paul's Midway neighborhood to be on the light rail line between Minneapolis and St. Paul.
In March, Greater MSP announced that Sentera would be part of the first year of its food and agriculture startup development program called "Bold Growth." That program is for companies with at least $5 million in revenue and the potential to succeed on a national scale.
