AgriTech Company Cool Planet Closes $20.3 Million in Funding

Cool Planet, an agricultural technology company focused on soil health solutions, acquired $20.3 million in new investment and note conversion as an extension of the company’s Series A funding. The investment was led by the company’s two largest existing investors, Agustín Coppel and North Bridge Venture Partners.

Cool Planet develops and markets Engineered Biocarbon™ technology products for soil health. The company’s first commercial product line is Cool Terra®, a carbon negative soil amendment designed to improve key soil performance characteristics for greater plant growth and quality. According to the company, it has experienced a surge in customer demand in 2018 through its national distribution network, and is working across a variety of industries with customers such as conventional and organic growers, city park departments, professional sports teams, universities, and golf courses that have hosted PGA Tour Championships.

Cool Planet plans to use the funds to further progress the company’s technology.