Press Releases 12.06.2017
Indigo Agriculture Closes Series D Funding Round at $203M
- Indigo raises an additional $47M, bringing Series D total to $203M and total amount raised to over $400M
- New investor, Investment Corporation of Dubai, joins previous investors the Alaska Permanent Fund, Baillie Gifford, Activant Capital, and founder Flagship Pioneering
BOSTON, Mass. -- Dec. 6, 2017 -- Indigo Ag, Inc., a company dedicated to harnessing nature to help farmers sustainably feed the planet, today announces the closing of its Series D funding round. With an additional $47M raised since the announcement of a $156M closing in late September, the total round has reached $203M. The largest investor in the second close was Investment Corporation of Dubai (ICD), which will hold a Board Observer seat at Indigo.
"Indigo is working on solutions that address the massive problems of food security and the effects of agriculture on environmental and human health," said David Perry, Indigo's President and CEO. "Emerging technologies in the fields of microbiology and data sciences make solving these problems possible, and financing from firms such as ICD, Baillie Gifford, and the Alaska Permanent Fund ensures that Indigo will have the capital that we need to take on these challenges."
The Series D round will support Indigo's global commercial expansion, along with its continued investment in the plant microbiome and development of software and data tools. It will also help to promote the widespread adoption of Indigo's microbial technology, as the company works to discover and commercialize products that increase agricultural yields, while decreasing reliance on synthetic fertilizers and agricultural chemicals.
"ICD looks for disruptive companies with potential to change industry paradigms — companies like Indigo," said H.E. Mohammed I. Al Shaibani, Executive Director and CEO of Investment Corporation of Dubai. "With a strong foundation in microbial technology, Indigo has built something much broader. It has the opportunity to fundamentally improve the agriculture business on a global scale."
Indigo is a company dedicated to harnessing nature to help farmers sustainably feed the planet. With a vision of creating a world where farming is an economically desirable and accessible profession, Indigo works alongside its growers to apply natural approaches, conserve resources for future generations, and grow healthy food for all. Utilizing beneficial plant microbes to improve crop health and productivity, Indigo is focused on cotton, wheat, corn, soybeans, and rice. The company, founded by Flagship Pioneering, is headquartered in Boston, MA, with commercial operations based in Memphis, TN, and international offices in Sydney, Australia, Buenos Aires, Argentina, and São Paulo, Brazil. www.indigoag.com
About Investment Corporation of Dubai
ICD was established in May 2006 by decree (11) of 2006 under a mandate to consolidate and manage the Government of Dubai's portfolio of commercial companies and investments. It also provides strategic oversight by developing and implementing investment strategy and corporate governance policies with an objective to maximize stakeholder value, for the long-term benefit of the Emirate.
ICD, as the principal investment arm of the Government of Dubai currently has a portfolio that represents a cross-section of Dubai's most recognized companies, in sectors that the Government of Dubai has deemed to be strategic for the continued development of the Emirate. The sectors include financial services, transportation, energy and industries, real estate and leisure, retail and other holdings. In addition, ICD has embarked on a disciplined and sustainable strategy of global investments, which are synergistic with its existing portfolio, to extend Dubai's presence and expertise into international markets.
For more information about ICD please visit www.icd.gov.ae.