Venture capital at Bayer Crop Science, which has until now focused mainly on investing in external funds, is just beginning to firm up with the creation of Bayer Growth Ventures (BGV). But there are still a lot of unknowns.
We caught up with Adrian Percy, global head of R&D for Crop Science at Bayer on the sidelines of the World Agri-Tech Innovation Summit, to discuss the company's open innovation strategies in the area of biologicals and novel crop inputs.
Bayer and Ginkgo Bioworks announced the partnership in September 2017. The partners jointly invested $100 million in the venture, making the deal the second largest deal from an Ag Biotechnology startup in 2017, according to the AgFunder data.
Bayer CropScience and Ginkgo Bioworks, a startup genetically engineering microbes for the flavor, fragrance, and food industries, have partnered with hedge fund Viking Global Investors to invest $100 million in a new, as yet unnamed agtech startup.
SlantRange, a US drone sensor manufacturer and imagery analytics provider using computer vision for agriculture, has won a contract with Bayer CropScience's crop breeding and research programs in the US.