A Lincoln-based company that helps farmers manage the use of nitrogen fertilizer has received a $2.5 million investment.
Sentinel Fertigation, which was founded by Jackson Stansell while he was a graduate student at the University of Nebraska-Lincoln, announced the seed investment Monday.
The investment round was led by Homegrown Capital of Sioux Falls, South Dakota; Grit Road Partners of Omaha; and Lincoln-based Invest Nebraska.
The company said it plans to use the money to expand the market presence of its N-Time nitrogen management software product as well as expand employment.
“With the seed funding from our aligned investors, we will advance N-Time’s capabilities, grow our Sentry Network of agronomic advisers, and ensure that more farmers can benefit from N-Time,” Stansell said in a news release.
People are also reading…
Sentinel Fertigation said in its news release that farmers who have utilized its software saved an average of $40 on nitrogen per acre and saw a 23% increase in yield per pound of applied nitrogen. In addition, 83% of growers utilizing N-Time during the 2022 season increased their profitability compared to their historical practices.
Other investors in this round of investment were Proven Ventures, Nebraska Angels, AgVentures Alliance, Black Hills Regional Angel Fund, Breakthrough 307, AgLaunch Farmers Innovation Fund I and Agri-Inject.
Invest Nebraska, the Nebraska Angels, Proven Ventures and AgVentures were among investors involved in a $1.2 million investment in the company last year.
“Our pre-seed investors have been instrumental in Sentinel’s success so far,” Stansell continued. “We are excited that several of these investors have decided to deepen their relationship with Sentinel and double down on their initial investment.”
“It’s been amazing supporting and watching Jackson and the Sentinel team take an academic solution solving a real problem and commercializing it through two very successful growing seasons,” said Ben Williamson, managing director of both Invest Nebraska and Grit Road Partners.
“We’re excited they’re continuing the momentum and now raising a significant round of capital to include existing investors and great new partners like Homegrown Capital.”
Reach the writer at 402-473-2647 or molberding@journalstar.com.
On Twitter @LincolnBizBuzz.