Dec. 7, 2017
Indigo Ag, Inc. 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."