Old Tom Capital makes strategic investment in TerraRad

TerraRad aims to reform irrigation management for golf courses through its product TurfRad, which offers real-time soil moisture data for optimal water use and playability. The company has signed a strategic investment agreement with industry expert Old Tom Capital to fuel its growth and development.

TerraRad Tech AG, founded in 2020 as a spinoff from the Swiss Federal Institute for Forest, Snow and Landscape Research (WSL) within the domain of ETH-Zürich, develops remote soil moisture measurement systems to conserve natural resources and optimize environmental conditions in agriculture, civil engineering, cryosphere research fields.

Additionally, TerraRad also commercializes its flagship product turfRad for golf courses. The product utilizes passive microwave remote sensing technology to measure naturally emitted microwaves from the soil. Mounted on mowers or utility vehicles, the radiometer sensor collects soil moisture data 14 times per second at a depth of 10cm (4 inches), which helps golf courses to optimize playing conditions and streamline day-to-day irrigation management.

With already 40 golf courses on board, mainly from the US, TerraRad aims to reach over 100 golf courses by the end of the year and to partner with irrigation system providers to create an integrated solution. "Given the water shortages in the Southwestern USA, there is major pressure on golf courses to use their water efficiently. There are also many courses with memberships that have high standards for playing conditions. We provide superintendents with the actionable information they need to efficiently manage their irrigation. For courses that have million-dollar irrigation budgets, the return on investment is huge", elaborates Robert Sedin, COO of TerraRad.

This ambition is supported by the new strategic investor Old Tom Capital, a private investment firm driving growth and innovation within the golf industry by investing early-stage and growth stage companies. Through its strategic syndicate, the Old Tom Venture Club, Old Tom Capital leverages deep industry expertise, an expansive network, and a passion for golf to support its portfolio companies. The investment will enable TerraRad to accelerate the development of turfRad while exploring opportunities to expand the company’s impact in the golf industry.

"TerraRads turfRad technology is addressing one of the most critical challenges in golf today: water management," said Matthew Erley, Managing Partner at Old Tom Capital. "By enabling golf courses to conserve water, reduce costs, and improve turf conditions, TerraRad is not only transforming course operations but also setting a new standard for sustainability in the industry. We are proud to partner with a company that is making such a meaningful impact, and we look forward to supporting their growth in golf and beyond."

(Press release/RAN)