Indigo Ag Announces Series D Funding

Indigo Ag, Inc., a company dedicated to harnessing nature to help farmers sustainably feed the planet, announces the first closing of $156 million in its Series D financing, doubling the company’s total capital raised to over $300 million.

New investors, including Baillie Gifford and Activant Capital, join the company’s founder and first investor, Flagship Pioneering, and existing investor, the Alaska Permanent Fund, in this closing. J.P. Morgan acted as sole placement agent to Indigo on this transaction. This latest round will support Indigo’s commitment to building a new kind of agriculture company — one that is focused on improving farmer profitability, environmental sustainability, and consumer health.

This follows news last July that Indigo raised $100M in Series C funding, which was a record for agtech. It also comes after preliminary data released last month revealed Indigo’s microbial seed treatment product for wheat, Indigo Wheat, shows an average yield improvement of 15.7% in expected conditions and 8.3% across all conditions in water-stressed target region of Kanas.

The latest round now has Indigo valued at $1.4 billion. “At Indigo, we’re working to connect agricultural practice to consumer preference,” said David Perry, President and CEO of Indigo. “This essential connection will dramatically accelerate the adoption of new sustainable technologies in agriculture, allowing for healthier people and a healthier planet.”

Last month, Indigo announced its intention to contract with leading farmers to produce 10.5 million bushels of Indigo Wheat for a 43 cent per bushel premium. This significant premium represents buyer willingness to pay more for high-quality and transparently sourced wheat. In addition to the premium price, growers can also expect yield improvements of up to 16% based on recently announced data.

“As consumer-focused brands and retailers seek out ways to meet their sustainability goals and produce premium goods, Indigo provides a source of agricultural products that meets those needs,” continued Perry.

Indigo is a leader in the study and application of the plant microbiome in agriculture. Identifying beneficial microbes that naturally reside within plants, Indigo applies these to modern seeds to increase crop productivity and resilience in the face of stress. While Indigo’s initial work focused on water stress, the company is building out a broad product portfolio to address a range of environmental stresses, as well as pests and disease. Addressing nitrogen use is a top priority for Indigo research and development. Harnessing natural microbes and leveraging data-based agronomic practices, Indigo is working to improve nitrogen uptake and efficiency in row crops, with the goal of dramatically reducing nitrogen use in agriculture.

Indigo’s cutting edge microbiology, combined with its data-based agronomic support, benefits growers by allowing them to sustainably increase production while decreasing input costs — getting them more for every bushel. In the coming months, Indigo will begin production of Indigo CornTM and Indigo SoybeansTM across the United States. With these crops, Indigo will also provide growers a premium at harvest.

“With climate change an active threat, consumers are calling for a new environmental standard in the agriculture industry and beyond,” said Dr. Mehmood Khan, Indigo’s Board Director. “Indigo is responding to this call by developing a paradigm in which growers are able to respond to these consumer demands while increasing their profits.”

Adding to Indigo’s momentum, the company has recently opened its first international offices in Argentina and Australia. As growers around the world increasingly turn to Indigo’s seed treatments and digital technologies, the company intends to establish itself in key agricultural regions, acting as an in-market resource. In the coming months, Indigo will grow these teams, developing local expertise and accelerating overseas business.

“Together with growers across the globe, we have the potential to not only impact an industry, but to fulfill a larger vision of a world where nutritious food is transparently sourced and resources are conserved for future generations,” said Perry. “Indigo’s offer to growers is key to our path forward because it focuses on their own profitability, the foundation on which this vision rests.”

Topics:

Leave a Reply

Americas

Africa/Middle East

Bayer Closes Monsanto Acquisition

Bayer successfully completed the acquisition of Monsanto on Thursday. Shares in the U.S. company will no longer be traded on

Africa/Middle East

Bayer Plans Closing of Monsanto Acquisition on June 7

Bayer plans to complete the acquisition of Monsanto on June 7, following the receipt of all required approvals from regulatory

Americas

Major GNSS Project to Boost Potential for ‘Satellite’ Farming in Brazil

The University of Nottingham is working with Brazilian and EU partners to solve atmospheric interference problems that hamper satellite-based positioning

Americas

Valagro to Build First U.S. Manufacturing Plant for Biostimulants

The 65,000-square-foot Orangeburg County, South Carolina facility is expected to come online in the third quarter of 2019.

Agrichemicals

China Plant Shutdowns Hurt Helm Results

The company said its Crop Protection business was faced with markets exhibiting weak growth momentum overall in 2017.

Americas

Latin American Ag Sector Sees Boon from Ties with China

Latin America’s agricultural sector, which over the past decade has benefited from rising consumer demand in China, is expected to

Brazil-Soybean-field
Americas

Embrapa, Corteva Agriscience Sign Agreement to Enhance the Sustainability, Competitiveness of Brazilian Farming

Embrapa, the research arm of Brazil’s Ministry of Agriculture, Livestock and Food Supply, and Corteva Agriscience, Agriculture Division of DowDuPont,

Americas

Highway Equipment Expands New Leader into Brazil

Highway Equipment Company (HECO), the manufacturer of New Leader crop nutrient applicators, recently announced its expansion into Brazil. The new

Agrichemicals

Sumitomo Launches Fungicide for Bananas

Rapid adoption of Powmyl is expected for Black Sigatoka control programs on banana plantations throughout Latin America.

Americas

STK, BASF in Deal to Expand Distribution in Brazil

STK will grant BASF exclusive rights to maket and sell the biological fungicide bactericide in the country.

Americas

Marrone Bio Innovations Enters Partnership with Israel’s Lidorr

Lidorr Chemicals Ltd., will develop and market three of MBI's products in Israel.

Americas

ADAMA to Launch Soybean Fungicide in Brazil

Global crop protection company ADAMA has announced that is ready to launch its distinctive fungicide, CRONNOS, in Brazil, the world’s

Americas

U.S. Farm Bill Draft Defines Plant Biostimulants for First Time

Definition is a critical step in the legislative process to support the development of new sustainable technologies for agriculture and U.S. farmers.

Agrichemicals

Talking Dicamba: Q&A with Heartland Co-Op’s Dave Coppess

Dave Coppess, Executive Vice President, Sales and Marketing, Heartland Co-op, West Des Moines, Iowa, chats about the company’s experience with dicamba-resistant cropping systems.

Americas

Syngenta Acquires Abbott & Cobb

Syngenta announced it agreed to acquire Abbott & Cobb, a U.S.-owned independent breeder, producer, and marketer of vegetable seeds.

Americas

In Trade War, U.S. Soy May Be Safe – Rabobank

As the trade dispute between China and the United States intensifies, China's dependency on U.S. soybeans may limit its ability to set tariffs, a new Rabobank report says.

Americas

Ag Software Firm Agrian Expands to Brazil

Since beginning in 2004 as a cloud-based record keeping system, Agrian has quickly expanded its digital capabilities to include a platform approach to help agronomists, growers, retailers, and food processors work collaboratively within one system.

Americas

Rise of Robotics: Q&A with Naïo Technologies CEO

One to watch in the growing agribotics niche is Naïo Technologies out of Toulouse, France.

Agrichemicals

U.S. Approves Bayer-Monsanto Merger – WSJ

The U.S. Justice Department has approved Bayer AG’s acquisition of Monsanto Co. after the companies pledged to sell off additional assets to secure government antitrust approval.

Latest News

Agrichemicals

BASF Registers New Active in India, Australia

The company anticipates further registrations in the United States, Canada, Mexico, China, and Argentina.

Asia

Valagro Launches Fertilizer Line in China

Valagro, an Italian supplier of biostimulants and other specialty nutrients, said it launched its water-soluble fertilizers, Master Supreme, to the Chinese market.

Agrichemicals

As Agchem Complexity Grows, Specialists Take Off Some of the Heat

Chemical companies increasingly are using specialist suppliers to outsource the process development and production of complex new molecules.

Precision Ag

Indigo Touts ‘New Approach to Agricultural R&D’

Indigo Research Partners uses a network of more than 50 of the largest U.S. growers to gather over a trillion data points daily from sensors, drones, weather stations, and other technologies.

Genetics

Scientists Introduce Simpler, Faster CRISPR

Gene editing just got easier, thanks to an international team of researchers.