Indigo Agriculture

Indigo Agriculture is a Boston, Massachusetts-based agricultural technology company that works with plant microbes, aiming to improve yields of cotton, wheat, corn, soybeans, and rice.[1] The company also offers crop storage and other logistics programs for farmers.[2]

Indigo Agriculture
TypePrivate
IndustryAgriculture
Founded2016
HeadquartersBoston, MA
Key people
Ron Hovsepian
Geoffrey von Maltzahn
Websitehttp://indigoag.com/

David Perry, who had led the company since 2014, was replaced by Ron Hovsepian in September 2020. Perry is also leaving the company’s board.[3]

History and funding

In 2014, Indigo was founded as Symbiota by Noubar Afeyan and Geoffrey von Maltzahn; led by CEO David Perry.[4] In February 2016, the company rebranded as Indigo Agriculture. The company has raised over $300 million in venture capital funding, with help from investors Flagship Pioneering,[5] the Alaska Permanent Fund, Baillie Gifford, the Investment Corporation of Dubai, and Activant Capital.[6] Indigo’s Series D in 2016 was noted to be the largest private equity financing in the agricultural technology sector.[7] In September 2017, the company raised USD$156 million, giving it a total valuation of USD$1.4 billion and making it a "unicorn", the term given to start-ups worth more than USD$1 billion.[8]

Products and services

Indigo's seed treatments contain microbes that live within plant tissue, unlike existing microbial seed treatments that contain microbes that live around the roots.[9] The first product, Indigo Cotton, a seed treatment containing bacteria isolated from cotton plants that is intended to improve yields under drought conditions was launched in July 2016.[10] By 2018 the company has also launched similar seed treatments to improve drought resistance in wheat, corn, soybeans, rice, and barley.[11] During 2016, the company released commercial data about its various products targeting cotton, wheat, and corn.[11][12] In the United States, Indigo contracts with growers to purchase their crops at a premium and resell them to buyers, and assists with logistics.[2] In 2017, the first year this model was implemented, Indigo contracted approximately half a million acres in cotton, wheat, corn, soy, and rice.[12]

References
  1. Lynley, Matthew. "Indigo Is Mapping Plant Microbiomes To Produce Next Generation Crops". TechCrunch. Retrieved 2016-03-15.
  2. Hopkins, Matt. "Indigo Launches On Farm Storage to Facilitate A Direct Farmer to Buyer Grain Marketplace". PrecisionAg.com. Retrieved 2018-03-01.
  3. Rosen, Andy (September 2, 2020) CEO leaves high-flying Boston startup Indigo Ag Boston Globe
  4. "One startup's plan to grow more crops: put the germs back in". The Verge. Retrieved 2016-03-15.
  5. "Flagship Pioneers New Name, $285M 'Special Opportunities' Fund | Xconomy". Xconomy. 2016-12-15. Retrieved 2017-03-17.
  6. "This Bug Startup Just Raised $100 Million To Fight Hunger". Fortune. 2016-07-21. Retrieved 2016-08-03.
  7. Brokaw, Alex (2016-07-21). "New probiotic seeds grow crops that require less water to survive". The Verge. Retrieved 2016-08-03.
  8. "Indigo Agriculture is Boston's newest 'unicorn' startup". bostonglobe.com. 2017-09-26. Retrieved 2018-08-06.
  9. "Startup Bets Its Magic Touch on Seeds Can Boost Crop Yields". MIT Technology Review. Retrieved 2016-03-15.
  10. Brewster, Signe. "A seed grows in Boston". TechCrunch. Retrieved 2016-08-03.
  11. Shaw, Jonathan. "Sustainable Agriculture and Food Security". Harvard Magazine. Retrieved 2018-03-08.
  12. Steadman, Jim. "Indigo Offers Premium for Cottom Production". CottonGrower.com. Retrieved 2018-01-09.
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