# ChrysaLabs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chrysalabs

- Industry: Agribusiness
- Headquarters: Montreal, Canada
- Website: www.chrysalabs.com
- Total disclosed funding: $12M
- Latest round: Series A (May 10, 2023)
- Investors on record: 9

## About

ChrysaLabs inc., based in Canada, specializes in innovative soil testing and analysis solutions that enhance agricultural productivity through actionable insights and efficient data collection.Founded in 2017 in Montreal, Canada, ChrysaLabs Inc. operates in the agricultural technology sector, focusing on advanced soil testing solutions. The company has successfully raised CAD 15 million in Series A funding on May 10, 2023, with participation from investors like Leaps by Bayer and TELUS Ventures. The founders, Samuel Fournier, Benjamin De Leener, Gabriel Mangeat, and Jacques Michiels, aimed to leverage their combined expertise to revolutionize soil management practices.ChrysaLabs specializes in advanced soil testing and analysis solutions aimed at enhancing agricultural productivity through actionable insights. Their core offerings include a patented real-time, 4-step intelligent soil testing technology that leverages machine learning and spectroscopy to provide precise soil analysis in under 30 seconds. This technology enables users—such as agronomists, carbon project developers, and large-scale farmers—to collect and interpret soil data efficiently, thus optimizing nitrogen management and carbon measurement efforts. ChrysaLabs' mobile app facilitates data collection and visualization, allowing users to export information directly in the field. Their customer base spans various geographical markets, including North America, Europe, and parts of Africa, where they work with stakeholders in agribusiness operations, regenerative agriculture initiatives, and carbon project development.ChrysaLabs generates revenue through a combination of direct sales of their soil testing solutions and subscription-based services for ongoing access to their mobile app and analytical tools. Transactions typically occur on a business-to-business (B2B) basis, with agronomists and agricultural firms purchasing their flagship soil testing services. The company’s offerings are designed to meet the specific needs of their clients, allowing for tailored solutions that enhance crop yields and optimize resource management. Pricing structures may vary based on service agreements, which can include one-time purchases for soil testing and subscription models for continuous soil monitoring and analysis. The revenue model is supported by partnerships with agricultural stakeholders aiming to leverage real-time soil data for improved decision-making and efficiency in farming practices.In May 2023, ChrysaLabs Inc. raised CAD 15 million in Series A funding to support its expansion into the carbon verification market and to provide real-time portable lab data to farmers. The funds will be utilized for product development and market expansion. The company plans to further enhance its soil testing technology and expand its reach into new geographic regions, including additional markets in Europe and Africa, by the end of 2024.

## Funding rounds

- Series A, May 10, 2023, $11M — BDC Capital, TELUS Ventures, Anges Quebec, Fonds Ecofuel, AQC Capital, Leaps by Bayer, Emmertech, Koan Capital
- Seed, Feb 3, 2021, $1M — Fonds Ecofuel, AQC Capital, Premier Tech Digital Limited
- Seed, Jan 1, 2019 — Fonds Ecofuel

## Investors

- Fonds Ecofuel (https://capitalatlas.ai/funds/fonds-ecofuel) — Seed, Series A
- AQC Capital (https://capitalatlas.ai/funds/aqc-capital) — Seed, Series A
- Premier Tech Digital Limited — Seed
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- TELUS Ventures (https://capitalatlas.ai/funds/telus-ventures) — Series A
- Anges Quebec — Series A
- Leaps by Bayer (https://capitalatlas.ai/funds/leaps-by-bayer) — Series A
- Emmertech (https://capitalatlas.ai/funds/emmertech) — Series A
- Koan Capital (https://capitalatlas.ai/funds/koan-capital) — Series A