The round coincides with a new partnership with Penny Newman to launch a new soil amendment product onto the market that has the potential to reduce nitrogen application by 30% over 3 growing seasons.
The startup launched the startup competition to showcase the latest in agriculture innovation to its farmer members, and to give startups the opportunity to get exposure and real-time feedback from their target customers.
The selected startups include packaging tech, marketplaces connecting farmers directly with retailers, innovative storage solutions and advanced analytics to optimize food supply chains.
Agribusiness marketplaces are a hot trend in agrifood tech at the moment as entrepreneurs look to create more options for farmers than existing distribution channels to give them more flexibility and hopefully more money in their pockets.
Indigo Ag has taken the next step in its journey to becoming a consolidated farm services platform by launching a grain marketplace.
"Always prioritize building a great team and bringing on great partners," say Maximiliano Landrein and Alejandro Larosa, founders of the online agribusiness marketplace. "This is a long race and to have the right people on board is vital."
Full Harvest says it is the only business-to-business marketplace for the end-to-end purchase, sale, and logistics of surplus and imperfect produce.
AgriSecure provides whole farm and field level budget planning & execution, organic farming expertise including training and coaching, certification and recordkeeping, and help with crop marketing.
We caught up with Curtis Garner from Bowles Farming, who has been assessing the way the business purchases its inputs in the hope of saving costs, to find what he thinks about all the agribusiness marketplace startups cropping up.
"I'm a firm believer that you need to address the entire value chain," says Usman Javaid, CEO of Ricult.
"Indigo could be a future marketplace for sustainable and biological ag inputs, which could impact my portfolio in a positive way," said one agrifood tech VC.
This is the latest deal among a growing number of agribusiness marketplace startups globally as the trend to take input purchasing and crop marketing online takes hold.
The Bushel mobile app platform integrates into grain elevators’ accounting systems to provide growers access to their contracts, scale tickets, prepays, cash bids, and markets.
HarvestPort wants to take over the task of “shopping around" by offering growers unique deals through an agricultural inputs marketplace.
Farmers Business Network makes an acquisition in Canada while Bayer sells assets to get ready for the big takeover, plus more in this week's brief.
AgVend is the latest entrant into a small set of players vying for the so far small community of farmers looking to purchase online - all banking on the expectation that that community will grow.
Since launching in 2015, Agrofy has signed up 5000 companies, including multinational ag players, that have listed more than 65,000 products.
Doodhwala is building its own logistics service, overriding India's established and complex network of middlemen and dealing directly with farmers.
We caught up with Goggin about working in the supply chain and with legacy grocery stores – both corners of the food system dominated by men.
Agriculture Coops can be a place to adapt and disperse technology innovation. Unfortunately, in most cases, adoption has been slow due to a lack of a technology embedded in coop culture.