A daily newsletter summarizing recent activity & interesting start-ups globally
RECENT NOTABLE ACTIVITY – AgriTech
- Provider of collateral and loans against the harvested farm produce, Produce Pay raises $7M Series A funding led by CoVenture and an additional $70M debt financing. Link
- Provider of precision agriculture decision support and farmer-to-farmer networking platform, Farmers Business Network raises $40M Series C funding led by GV and DBL Partners. Link
- Provider of technology for converting biomass into green fuels using a thermo-mechanical process and a biocatalyst, CoolPlanet raises $19.3M Series F funding from BP and GV. Link
- Provider of a technology platform to develop crop traits, Benson Hill BioSystems raises $18M PE funding. Link
- Provider of an online weather forecasting platform for agriculture and other industries, Weather Analytics raises $17M Series B funding from Tokio Marine HCC and W. R. Berkley Corporation. Link
- Provider of satellite imagery for precision agriculture decision support, Astro Digital raises $16.65M Series A funding. Link
- Provider of an m-commerce platform to farmers for procurement of seeds, AgroStar raises $10M Series B funding led by Accel Partners. Link
- Integrated aeroponic fruits & vegetables grower and supplier, Bowery Farming raises $7.5M Series A funding led by First Round Capital. Link
- Provider of an online grain trading platform, FarmLead raises $6.5M Series A funding led by Monsanto Growth Ventures. Link
- Indian agri-finance loan intermediary, Sammunati Finance raises $4.5M Series A funding led by Accel Partners. Link
- Developer of biological crop protection chemicals, AgroSavfe raises $3.4M Series B funding from Saffinova Partners. Link
- Startup involved in the development of an epigenetic technology platform for the develop crop traits, Epicrop raises $3.2M Series A funding led by TechAccel. Link
- Provider of a digital platform for B2B farm equipment, HarvestPort raises $2.5M Series A funding led by Cultivian Sandbox. Link
- Startup involved in the breeding technology research for cannabis crops, FrontRange BioScienes raises $1.5M seed funding. Link
- Integrated cattle breeding startup, Kunoa Cattle raises $300k seed funding. Link
- Provider of a livestock farm management software, Fodjan raises undisclosed Series A funding from TGFS and HTGF. Link
- Provider of a big data analytics platform for precision agriculture decision support, Aerial Intelligence raises undisclosed seed funding from Mindset Ventures. Link
- Provider of a digital platform for peer-to-peer farm equipment rental, Farmart raises undisclosed seed funding from Indian Angel Network. Link
- P2P marketplace for crop insurance, WorldCover raises undisclosed seed funding from CreditEase. Link
- Online B2C grocery retail platform, Paalak.in raises undisclosed seed funding. Link
SOME INTERESTING STARTUPS FOUND
Yofumo (2016, Denver): Autonomous post-harvest storage system for cannabis crops.
Mesur.io (2016, North): Integrated sensor and software platform for real-time farm monitoring and data analytics.
FreezeM (2016, Tel Aviv): Cryogenic technology solution for packing insect larvae.
LEADER BOARD – AgriTech
Precision Ag
Farm Data and Analytics – Integrated Platforms
The Climate Corporation (2006, SF, $109M, Acq.) – Hardware and software solutions provider for hyper-local weather and farm data with predictive analysis for insurance products. Sold off its insurance business to AmTrust North America in July 2015. Acquired by Monsanto in 2013.
Farmers Edge (2005, Winnipeg, $44M) – Hardware and software solution provider for continuous monitoring of farm fields and predictive analysis for management decision support.
Farm Data and Analytics – Software Platforms
FarmLink (2004, Kansas, $101M) – Yield benchmarking tool for farmers to assess the impact of inputs. Backed by Open Air Equity Partners.
Farmers Business Network (2014, Davenport, $88M) – Precision agriculture solutions through big data analysis of data gathered from farmers and agriculture machinery. Backed by Kleiner Perkins, DBL Partners, and GV.
Field Operations
AutoAgronom (1988, Yokneam Illit, $180M) – Sensor based measurement of physical and chemical changes in root zone supplemented with computerized analysis and fuzzy control algorithms to automatically activate irrigation and fertilization.
Novariant (1994, Fremont, $60.5M) – Sensor based auto steering hardware solutions for GPS-based navigation through tablets. Backed by Sierra Ventures, Ridgewood Capital, Clearstone.
Blue River Tech (2011, Sunnyvale, $30M) – Develops automated technology solutions which use computer vision for identification and selective killing of unwanted weed. Backed by Khosla Ventures, DCVC, Innovation Endeavors, Pontifax Agtech.
Harvest Automation (2007, Billerica, $28M) – Developer of robotic machinery for farming operations. Backed by Founder Collective, Entree Capital, Cultivian, MassVentures.
Feedlogic (2002, Wilmar, $678k) – Automated feeding machines along with data recording platform for livestock farmers in the USA. Backed by unknown private investors.
BioTech
Farm Inputs – Seeds
Monsanto (1901, St. Louis, IPO) – Developer of genetically modified (GM) seedlings to mitigate risks associated with biotic and abiotic stresses in crops. Went public in 2000.
Syngenta (2000, Basel) – Developer of genetically modified crops and biological agrochemicals apart from engaging in genomic research.
DuPont Pioneer (1926, Des Moines) – Developer of hybrid (non-GM) and GM seeds to mitigate risks against insects, pests and other diseases.
Farm Inputs – Biologicals
Indigo (2013, Cambridge, $163.5M) – Earlier known as Symbiota, it is building technology for delivery of selective plant microbes through seed coatings.
AgBiome (2012, Raleigh, $52M) – Developer of biological agrochemicals for crop protection against soil-borne diseases. Backed by Gates Foundation, Monsanto Growth Ventures, Syngenta Ventures, ARCH Venture Partners, UTIMCO, Polaris Partners, Pontifax Agtech, Harris+Harris Group.
Agrivida (2002, Medford, $61M) – Specially engineered enzymes for the nutrition of livestock animals. Backed by KPCB, Middleland Capital, ARCH Venture Partners, Cultivian, DAG Ventures, Bright Capital, Northgate, Prairie Gold.
Zymergen (2013, Emeryville, $174M) – Combination of synthetic biology and machine learning to engineer industry relevant microbes to manufacture chemicals and new materials. Backed by Softbank, Data Collective Venture Capital, True Ventures, AME Cloud Ventures, Iconiq Capital, DFJ, Innovation Endeavours, Two Sigma Ventures, Prelude Ventures, Tao Capital.
Infrastructure
Advanced Animal Diagnostics (2001, Morrisville, $36M) – Diagnostic infrastructure provider for real-time animal health monitoring through white blood cell levels in animals. Backed by Middleland Capital, Cultivian, Kansas Bioscience Authority, LabCorp, Intersouth Partners, Novartis Venture Fund.
Tech Platforms
Kaiima (2006, Lower Galilee, $91M) – Tech platform to enhance inherent productivity and resource usage efficiency in food and feed crops. Backed by KPCB, DFJ, Horizons Ventures, Tamir Fishman.
Waste Management
Cool Planet (2009, Camarillo, $143M) – Utilizes patented process to convert non-food biomass to gasoline and organic soil nutrients. Backed by Northbridge, UBS, Google Ventures, Energy Technology Ventures, Concord Energy, Sustainable Conversion Ventures, British Petroleum.
Wiserg (2010, Issaquah, $32.5M) – Devices to convert grocery waste into a nutrient rich liquid which can be used as fertilizer for agriculture.
Cellular Ag
Impossible Foods (2011, Redwood City, $183M) – Beef-substitute made from a protein called Heme extracted from plants. Backed by Khosla Ventures, Google Ventures, UBS, Horizon Ventures, Viking Global.
Breeding Tech
Prairie Plant (1988, Saskatoon,$6.4M) – Plant breeding research to produce berry and other fruit plants for orchards. Backed by WestCap.
Genetically Modified Organisms (GMO)
Oxitec (2002, Abingdon, $20M) – Develops genetically modified pests which act as anti-pests to suppress the population of disease-causing pests in crops. Backed by Oxford Capital, East Hill.
Farm Business Management
Field Crops – Field Management
Granular (2014, SF, $23M) – Farm management software for collection and analysis of data related to farm business processes and planning of resources. Backed by A16Z, Google Ventures, Khosla Ventures, Tao Capital, Fall Line Capital, Emory Investment Management.
Field Crops – Multipurpose
Conservis (2009, Minneapolis, $13.6M) – Cloud-based software platform for single or multi-farm management. Backed by Cultivian Sandbox, Middleland Capital, and Heartland Farms.
Agribusiness
Cultivation – Algae
Sapphire Energy (2007, San Diego, $290M) – Cultivation of algae and using it as a biomass source for production of crude oil. Backed by Monsanto Growth Ventures, ARCH Venture Partners.
Infrastructure
Irrigation
Netafim (1965, Tel Aviv) – Manufactures components for drip irrigation and develops smart irrigation systems. Backed by Permira and Tene Investment Fund.
Aquaculture – Full Stack System
GFA Advanced Systems (2008, Kadima, $5M) – Developer of zero discharge intensive aquaculture system. Backed by Linnaeus Capital.
Market Linkages
Farm Inputs
CloudFarm (2013, Beijing, $26M) – Online retailer of Agri inputs including seeds, fertilizers, agrochemicals, farm equipment, etc.
Farm Produce
Meicai (2014, Beijing, $253M) – B2B mCommerce for fruits and vegetables. Backed by Zhen Fund, Blue Lake Capital.
Finance
ProducePay (2014, Los Angeles, $9.5M) – Digital Platform for real-time tracking of produce movement and arrangement of collateral and loans. Backed by CoVenture, Menlo Ventures, Arena Ventures, Red Bear Angels, Social Leverage, and ELab.
Indoor Agriculture
AgriBusiness – Cultivation
Sundrop Farms (2009, London, $100M) – Hydroponics cultivation of fruits and vegetables while using renewable energy resources in greenhouses. Backed by KKR.
AeroFarms (2004, NYC, $20.5M) – Cultivation of leafy greens in soil-less growth medium using aeroponics. Backed by Middleland Capital, Wheatsheaf, GSR Ventures, Mission Point Capital.
Infrastructure – Hydroponics
GrowLife (1987, Seattle, IPO) – Provides urban hydroponic / soil-less farming systems, components and cultivation supply products. Went public in 2011.
Grodan (1969, Milton) – Vegetative and steerable substrates for indoor cultivation of horticultural crops.
Infrastructure – Lighting
Illumitex (2005, Austin, $67M) – Developer of LED lighting solutions for horticulture, industrial and other use. Backed by NEA, Morgan Creek, Apex, WPG, Syngenta Ventures.
Technology Providers – Data Collection and Analysis
Agrilyst (2015, NYC, $1M) – Software platform for farm data and analytics in indoor farms. Backed by Brooklyn Bridge Ventures, Metamorphic Ventures.
Leader board includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
For latest updates visit AgriTech feed.