(Full story at AgFunder)
- InnerPlant, which recodes plants’ DNA to improve distress signaling, has raised $30 million in Series B funding.
- An alliance of large North American growers, helmed by Canadian grain operator and ag investor Coutts Agro, led the round.
- Climate investor Systemiq Capital also participated alongside returning investors Deere & Company and Bison Ventures.
- Funding will support the rollout of InnerPlant’s insight platform for soybeans and accelerate the company’s work alongside its seed partners, among other things.
“We’ve always considered farmers our ideal investors’
A group of farmers banding together to lead a fundraising round is rarely seen in the agtech sector and certainly not at this size, which suggests substantial confidence in InnerPlant’s technology.
“We believe InnerPlant is a highly compelling investment, and our team had the idea it would be a powerful statement to do a farmer-led round to accelerate InnerPlant to fulfill their objectives,” Matt Coutts, CIO of Coutts Agro and InnerPlant board member tells AgFunderNews.
“Our network of like-minded friends who are also farmers and who understand the nature of agriculture and the capital markets made for a natural group to try [leading an investment] with. Many of them were aware of InnerPlant before and saw the value of investing on the financial merits, driven by the viewpoint that it is a technology that will deliver substantial value to farmers.”
(Story continues at AgFunder)