Indigo Harvests $156M to Boost Agtech R&D, Harness Crop Microbes

Frank Vinluan for Xconomy:   In the past year, Indigo Ag has brought to the market five microbial seed treatments that help plants hold up to crop stresses, such as drought. The company now has its sights set on developing more products for more applications, and it has raised $156 million to support that work.

New investors Baillie Gifford and Activant Capital joined in the Series D funding round. Founding investor Flagship Pioneering also participated in the financing, as did the Alaska Permanent Fund, a previous investor.

The funding announcement on Tuesday is the first closing of the fund, and it could mark the largest agbio deal of the year, eclipsing the total raised so far this year by other agbio startups combined. According to a recent report from online investment marketplace AgFunder, agbio startups focused on crop production raised a total of $120.5 millionacross 17 deals in the first half of the year. Indigo says it has now raised more than $300 million in financing since its inception.

Indigo’s work focuses on beneficial microbes—the bacteria, viruses, and fungi that naturally coexist with plants. Some of these microbes work with plants, helping them overcome stresses that they face over a growing season. Indigo’s technology screens samples to identify beneficial microbes, which it then develops into a seed coating. Indigo launched its first product, a treatment for cotton plants, last year. Since then, Indigo has brought to the market microbial products for corn, wheat, soybeans, and rice.  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

The ERT150 - Dorner’s Next Evolution of Edge Roller Technology Conveyors

The ERT150 - Dorner's Next Evolution of Edge Roller Technology Conveyors

The next evolution in Dorner's Edge Roller Technology conveyor platform, the ERT®150, is ideal for small and light-load assembly automation, as well as medical and medical-device assembly application. The ERT platform is the only pallet conveyor of its kind available with an ISO Standard Class 4 rating for cleanroom applications. Earning the ISO Standard 14644-1 Class 4 rating means Dorner's ERT150 will conform and not contribute to the contamination of cleanrooms to those standards. As implied by its name, the ERT150 (Edge Roller Technology) uses rollers to move pallets through the conveyor smoothly with no friction (a byproduct often seen in belt-driven platforms). The conveyor's open design eliminates concerns of small parts or screws dropping into rollers and causing conveyor damage or jamming. The ERT150 is suited to operate in cleanroom environments requiring a pallet handling conveyor. It is capable of zoning for no or low-back pressure accumulation and is ideal for automation assembly applications within industries including medical devices, electronics, consumer goods among others.