The news: Canberra-based Agriculture tech startup Goterra has entered voluntary administration after failing to secure the investment needed to scale its waste-processing operations.
The context: The appointment follows ASIC fillings showing the company board appointed Teneo’s Daniel Walley and Martin Ford to serve as joint administrators.
In a statement to SmartCompany, a Goterra representative confirmed the startup was unable to secure the investment needed to scale its operation, adding that the administrators intend to sell the business as a going concern.
Founded by Olympia Yarger, Goterra secured a $1.2 million seed round in 2018 from backers including Grok Ventures, Rampersand, Giant Leap and the CAGES Foundation, followed by a…