Montreal-based soil science startup ChrysaLabs has raised $11 million from investors including Telus Ventures, BDC Capital and Leaps by Bayer.

ChrysaLabs, a Montreal, Canada-based ag-tech company focused on soil science, raised CAD $15M in Series A funding.

Investment will advance smart farming technology to empower growers with real-time portable lab data and to support the carbon credit industry with scientifically accurate measurementsMONTREAL, May 10, 2023 /PRNewswire/ -- ChrysaLabs, a leading innovator at the forefront of soil science, announced today a 15 million Canadian dollar ($11 million) financing round, including investments from Leaps by Bayer , TELUS Ventures and BDC Capital . Existing investors Ecofuel, Emmertech, Anges Québec, AQC and Koan Capital are also participating in this financing.A ChrysaLabs Probe™ combines three cutting-edge and patented technologies with AI machine learning to deliver real-time insights straight to the field. The sampling probe analyzes 40 different soil parameters to provide a precise overview of what is happening in the soil, at a lower cost than traditional soil testing. Within 30 seconds of inserting the probe into the ground, users will have a complete soil analysis – including macronutrients, micronutrients, pH, organic matter, CEC, organic carbon, bulk density, moisture and more – at their fingertips.ChrysaLabs announced $11 million Series A financing with investments from Leaps by Bayer, TELUS Ventures and BDC Capital Tweet this"Our spectroscopy-based soil probe delivers ground truth soil information, which can empower farmers to make a real impact on climate change while advancing their financial opportunities," said ChrysaLabs Co-Founder and CEO, Samuel Fournier. "This investment round comes at an important time for us and the industry, which is greatly in need of accurate data, and will propel our expansion into the carbon verification market and onto more farmers' fields."Today, the rapidly growing ag carbon market is missing an accurate, scalable and low-cost solution to deliver trustworthy soil data. ChrysaLabs' carbon quantification solution establishes a reliable method to verify nature-based carbon credits