Indigo Agriculture
| File:Indigo Ag logo.png | |
| Private | |
| ISIN | 🆔 |
| Industry | Agriculture |
| Founded 📆 | 2016 |
| Founder 👔 | |
| Headquarters 🏙️ | Boston, MA |
Area served 🗺️ | |
Key people | David Perry, Geoffrey von Maltzahn |
| Members | |
Number of employees | |
| 🌐 Website | http://indigoag.com/ |
| 📇 Address | |
| 📞 telephone | |
Indigo Agriculture is an agricultural technology company. Its products use plant microbes that aim to influence crop health and productivity and mostly focus on cotton, wheat, corn, soybeans, and rice.[1] The company, founded by Flagship Pioneering, is headquartered in Boston, Massachusetts, with additional offices in Memphis, Tennessee, Research Triangle Park, NC, Sydney, Australia, Buenos Aires, Argentina, and São Paulo, Brazil.[2]
History and funding[edit]
In 2014, Indigo was founded as Symbiota by Noubar Afeyan, David Berry, and Geoffrey von Maltzahn, led by CEO David Perry.[3] In February of 2016, the company rebranded to Indigo Agriculture. The company has raised over $300 million in venture capital funding, with help from investors Flagship Pioneering,[4] the Alaska Permanent Fund, Baillie Gifford, the Investment Corporation of Dubai, and Activant Capital.[5] Indigo’s Series D is noted to be the largest private equity financing in the agricultural technology sector.[6]
In July 2016, the company announced its first product, Indigo Cotton, a seed treatment containing bacteria harvested from cotton plants that has shown to improve yields under drought conditions.[7][unreliable source?] Since, the company has also launched in wheat, corn, soybeans, rice, and barley, all of which address water stress.[8] Throughout 2016, the company released commercial data about its various products targeting cotton, wheat, and corn.[8][9]
Through its U.S. business model, Indigo contracts with growers to purchase their crops at a premium and resell them to buyers.[10] In 2017, the first year this model was implemented, Indigo contracted approximately half a million acres in cotton, wheat, corn, soy, and rice.[9]
Methodology[edit]
Indigo uses seed coatings to reintroduce plant microbes into plant ecosystems[11] in a process compared to “probiotics for plants.”[12] Existing microbe seed treatment methods used in agriculture inject microbes in the soil near a plant’s roots, whereas Indigo focuses on microbe populations that live within plant tissue.[11]
References[edit]
- ↑ Lynley, Matthew. "Indigo Is Mapping Plant Microbiomes To Produce Next Generation Crops". TechCrunch. Retrieved 2016-03-15.
- ↑ "This Startup Wants to Use Bacteria to Revolutionize How Our Food Is Produced". Fortune. Retrieved 2016-03-15.
- ↑ "One startup's plan to grow more crops: put the germs back in". The Verge. Retrieved 2016-03-15.
- ↑ "Flagship Pioneers New Name, $285M 'Special Opportunities' Fund | Xconomy". Xconomy. 2016-12-15. Retrieved 2017-03-17.
- ↑ "This Bug Startup Just Raised $100 Million To Fight Hunger". Fortune. 2016-07-21. Retrieved 2016-08-03.
- ↑ Brokaw, Alex (2016-07-21). "New probiotic seeds grow crops that require less water to survive". The Verge. Retrieved 2016-08-03.
- ↑ Brewster, Signe. "A seed grows in Boston". TechCrunch. Retrieved 2016-08-03.
- ↑ 8.0 8.1 Shaw, Jonathan. "Sustainable Agriculture and Food Security". Harvard Magazine. Retrieved 2018-03-08.
- ↑ 9.0 9.1 Steadman, Jim. "Indigo Offers Premium for Cottom Production". CottonGrower.com. Retrieved 2018-01-09.
- ↑ Hopkins, Matt. "Indigo Launches On Farm Storage to Facilitate A Direct Farmer to Buyer Grain Marketplace". PrecisionAg.com. Retrieved 2018-03-01.
- ↑ 11.0 11.1 "Startup Bets Its Magic Touch on Seeds Can Boost Crop Yields". MIT Technology Review. Retrieved 2016-03-15.
- ↑ "These Probiotics For Plants Could Help Feed The World". 2016-02-18. Retrieved 2016-08-17.
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