Foley & Lardner advised agriculture software startup Regrow Agriculture in its $17 million Series A funding as it proceeds with the U.S. rollout of its monitoring, reporting and verification (MRV) tool for carbon sequestration and monetization. The new investors participating in this most recent round include Cargill, Ajax Strategies and Tenacious Ventures. Returning investors include Microsoft venture unit M12, AirTree Ventures, the Jeremy & Hannelore Grantham Environmental Trust‘s Neglected Climate Opportunities fund, and Main Sequence – the VC arm of Australian national R&D agency CSIRO.
Regrow Ag was formed in February 2021 upon the merger of Australian crop science company FluroSat with U.S. soil health startup Dagan and is led by Anastasia Volkova (CEO) and William Salas (Chief Strategy Officer). Regrow's MRV platform is “the first and only” system allowing stakeholders across the emerging ag carbon credits industry to create and cash in on carbon strategies. It does this by enabling transparent reporting, historical analysis, and forward-looking projections of carbon sequestration and emissions reductions, with the hope of removing “the most critical challenges standing in the way of ubiquitous adoption of regenerative agriculture practices.”
The Foley team advising Regrow was led by partner Louis Lehot with assistance from associate Youn-Jae “Ashley” Lee.