Agtech Funding Sheet: Harvard Angels Invest in IntelinAir, Wheatsheaf Invests in Animal Health Tech, BayoTech Raises $1.5m, more

September 15, 2016

IntelinAir, a San Jose-based automated aerial imagery analytics startup, closed its seed round consisting of $3 million in equity and $500k in venture debt from Midwest high-growth tech funders Hyde Park Venture Partners, early- and mid-stage tech business investors Western Technology Investments, Harvard Business School Angels of Chicago, Holdsworth & Company, seed-stage multi-industry funders HiveFund, and other angel investors. The company offers health analytics for crops using high-resolution aerial imagery analytics, advanced agronomic sciences, and proprietary algorithms.

Wheatsheaf Group, the UK family office funded investment group, has invested in GrowSafe, a Canadian animal health startup. The partnership will help GrowSafe improve its R&D efforts for its livestock feed efficiency product.

BayoTech, a development stage company innovating in the steam methane reforming sector, has raised $1.5 million from Cottonwood Technology Fund, a Southwest US and Northern Europe-focused tech investor. BayoTech has developed a nested-flow approach to the Steam Methane Reforming (SMR) process. The SMR process is widely used throughout the chemicals industry, producing hydrogen and carbon monoxide for use in transportation and as a chemical feedstock, among other applications. BayoTech is a 2016 Yield Lab accelerator alumnus.

Crop Enhancement, a Massachusetts-based seed coating developer, closed a $8.5 million Series B round led by 1955 Capital, the VC fund launched by ex-Khosla partner Andrew Chung, and MLS Capital, a fund co-managed by Spruce Capital Partners and Xeraya Capital. Bandgap Ventures also joined the round along with existing investor Phoenix Venture Partners. The startup’s first product CropCoat protects cocoa crops from pests, which you can find out more about on AgFunderNews here.

Blue Prairie, a startup producing chicory flour to replace white flour, has raised a $6 million Series A led by agtech-focused multi-stage funder S2G Ventures with participation from Invest Nebraska, multi-industry investor DSM Venturing, and global early-stage tech investor Middleland Capital. To read why S2G chose Blue Prairie as its first ingredients company investment, check out our recent story on AFN.

Meadow Foods, the UK’s largest independently owned dairy group and a supplier of milk and dairy ingredients to the food industry, has raised an investment round with Paine & Partners, the agribusiness private equity firm. The new funds will be used to support Meadow Foods’ strategy to grow the business through organic expansion and acquisitions.

International Finance Corp, a World Bank Group member, has invested $10 million in Myanma Group for the construction of the Hmawbi Agricultural Input Complex, a state-of-the-art formulation plant for crop protection products, located 30 km north of Yangon in Myanmar. It will be the first and only modern crop protection plant in Myanmar that meets clear environmental criteria set by the World Bank Group.

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