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Indigo, the startup bringing algorithms and machine learning to the agricultural industry, has raised a $250 million Series E, bringing its total raised to $650 million.
The funding values the company at $3.5 billion, according to a source familiar with the deal. That’s a steep increase from its previously reported value: $1.4 billion with a $156 million Series D last September. Existing investors Baillie Gifford, the Alaska Permanent Fund, the Investment Corporation of Dubai and Flagship Pioneering participated in the round. New investors, who Indigo declined to name, also participated.
Indigo - Farmers - Health - Productivity - Crops
Indigo initially launched in 2014 to help farmers improve the health and productivity of their crops with microbial products that protect against the environment, disease and pest stress. Now, the company is expanding its suite of digital tools with the launch of Indigo Marketplace, which is essentially eBay for farmers.
Indigo CEO David Perry, who grew up on a farm in Arkansas, told TechCrunch Indigo expects to do $500 million in bookings this year thanks to the early growth of the new product. That’s more than 8x growth YoY.
Indigo - Online - Grain - Marketplace - Network
Indigo first began rolling out the online grain marketplace to its network of farmers in June and has since seen more than $6 billion worth of grain put up for sale by farmers. Buyers have placed more than...
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