Earnest Agriculture: Helping Farmers Turn Waste into Sustainable Soil Products

Earnest Agriculture Fast Facts

Headquarters

Rantoul, Illinois

Product

Earnest Agriculture is transforming crop improvement by providing a hassle-free and effective solution. Their approach ensures consistent efficacy, delivering a balanced solution for maximum yield. They enable crops to optimize their requirements through a consortium of microbes, offering a reliable source of biostimulant and biopesticide with consistent quality and effectiveness.

Funding

Earnest Agriculture has raised $1.2M total and is currently raising a $3.5M Seed round.

Team

CEO: Eddy Mejia

• Computer Engineer

• MBA graduate from the University of Illinois Urbana-Champaign

• 6-year army war veteran

• Worked for 5 Fortune 100 companies including Caterpillar, Intel, AT&T, Northrop Grumman, and Exelon

CSO: Gabriel Price-Christenson

• Ph.D. from the University of Illinois Urbana-Champaign researching microbial use to prevent plant disease

• Spent two years at Michigan State University researching the effects of nitrogen fertilization on soybean yield and the plant benefits of rhizobial bacteria

COO: Ignacio Arretche

• Received his Ph.D. in mechanical engineering from the University of Illinois Urbana-Champaign

• Worked at improving manufacturing processes for Ford Motor Company

Business Model

Earnest Agriculture offers B2B licensing for their technology to seed developers.

Market Opportunity

What sets Earnest apart from their competition is their unique approach to addressing the major challenges in the industry which include achieving consistent results in diverse environments, maintaining consistent quality in fermentation, and extending shelf life. Earnest distinguishes itself by designing a microbial consortium that effectively tackles all these hurdles delivered via a seed coating.

Traction

• Raised $1.2M

• Have global field trials scheduled in 2024 on over 2.3K+ acres

• 2K acres are a paid pilot

• Participated in the University of Illinois's iVenture Accelerator, VentureWell Accelerator (Pioneer and Propel), Gener8tor's Accelerator gBeta AgTech, AgLaunch's Catalyst program, and MassChallenge Early Stage Accelerator

• Currently in SOSV Indiebio's NY Accelerator

Why Now?

Intensive agriculture practices have significantly altered the composition of the soil microbiome, rendering native soil microbes less effective in supporting optimal crop growth. The excessive use of fertilizers and pesticides has disrupted the natural balance, hindering the microbes' ability to foster a healthy environment for plants.

Fortunately, in undisturbed prairie lands, there are still thriving communities of microbes that play a crucial role in promoting plant growth as per natural processes. At Earnest, they have harnessed these beneficial microbes to develop a sustainable solution for farmers. By incorporating these native microbes into our agricultural practices, they aim to restore a more balanced and natural soil microbiome, ultimately helping farmers enhance their plant yields in an environmentally friendly way.

Climate Impact

Earnest is a more sustainable fertilizer and pesticide, allowing farmers to reduce and/or eliminate synthetic solutions.

Support Earnest Agriculture

Investors: Earnest Agriculture is raising a $3.5M Seed round and looking to connect with investors

Interns: Earnest Agriculture is looking for Lab Technician interns in Rantoul, IL

Advisors: Earnest Agriculture is looking for agriculture strategy and field trial operations advisors

Customers - Earnest Agriculture is looking to connect with farmers

Climate Tech Funding

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The State of Climate Tech 2023

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• Record Year for (Corporate) Acquisitions

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