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WISE(rg) Up to $50M in Venture Funding

WISEerg, based in Redmond, Wash., builds a refrigerator-sized product, called the Harvester, that not only converts food waste into organic fertilizer, it uses smart technology to track what’s being thrown out to help grocers manage waste and create alternative donation or re-use solutions.

The firm has reportedly raised $33.4 million in venture capital so far this year, bringing its total funding to nearly $50 million. The most recent round was its $16.4 million Series B last month which came only a few months after the Washington-based company completed a $17 million venture round in April 2016.

AgFundr News has more:

“We are seeing unheard of efficacy of this product,” LeSueur recently told AgFunderNews. “We’ve been very quiet about it because a lot of people don’t believe us. We are on thousands of acres across Washington, Oregon, California, and Mexico. It doesn’t matter the crop or the soil type. We are seeing yield increases of 15 to 30 percent.”

He also reports seeing not just an increase in yields, but an increase in quality and uniformity as well. It’s not just about producing more for LeSueur. It’s also about ensuring that the additional yield is up to snuff.

One reason for the product’s popularity is what he views as an increasing interest in soil stewardship among farmers.

“We’ve been seeing receptiveness from all types of growers, whether they are organic or conventional, where they are starting to care about their soil health and they are willing to look at applying organic methods,” he explains. “They are much more in tune with the biological health of the soil and because of that they are receptive to looking at other inputs beyond pure chemicals.”

Read the full story here.

TAGS: Food Waste
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