Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f87dc7e6-7a29-4899-aa87-8931f6a63526&Preview=1
Date 6/27/2012
Company Name Solum
Mailing Address 1916 Old Middlefield Way Mountain View, CA 94043
Company Description Solum makes a field-deployable measurement tool that can give immediate answers on soil nutrient needs. Fertilizer is a major cost for commodity crops, amounting to 40-50% of the operating expense for corn. It is currently applied in an inefficient manner based on average values rather than per-acre needs. Our services and tools give farmers confidence that they can increase their yields and reduce their costs by applying fertilizer in the right amount, at the right place, and at the right time. Using our tools makes farming more sustainable by reducing nitrogen runoff (which causes dead zones in areas such as the Gulf of Mexico) and combating the dominant source of nitrous oxide—the third most important greenhouse gas and the leading cause of ozone depletion.
Proceeds Purposes Funds will be used to meet growing demand through the expansion of facilities and the addition of hardware and software engineering talent, supporting Solum’s mission to optimize sustainable food production through data-driven agriculture.