- Latest funding round will support Indigo’s continued investment in plant microbiome research, development of software and data tools, and rapid commercial expansion
Boston, Massachusetts, September 26, 2017 – 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.
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.
“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.”
Indigo is a company dedicated to harnessing nature to help farmers sustainably feed the planet. With a vision of creating a world where farming is an economically desirable and accessible profession, Indigo works alongside its growers to apply natural approaches, conserve resources for future generations, and grow healthy food for all. Utilizing beneficial plant microbes to improve crop health and productivity, Indigo’s portfolio is focused on cotton, wheat, rice, corn, and soybeans. The company, founded by Flagship Pioneering, is headquartered in Boston, MA, with commercial and customer service based in Memphis, TN. www.indigoag.com
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