Crop sustainability developer Indigo Ag raises $300 million

By Dan Primack, author of Pro Rata

Indigo Ag, a US-based developer of crop sustainability and selling solutions, raised around $300 million in new Series F funding, Axios has learned.

Why it's the BFD: Indigo is the world's most highly valued agtech startup, with a $3.5 billion post-money valuation.

- The Series F round total is expected to be around $500 million, including an initial $200 million announced in January (of which $175m was equity).

- Return backers include Flagship Pioneering and Alaska Permanent Fund, while Riverstone Holdings is a new investor. Fedex also participated on the initial tranche, while the post-money valuation is flat from a Series E round raised at the end of 2008.

- Indigo Ag declined comment.

The bottom line: "Indigo started with a microbe-based seed treatment in 2016 and has since evolved into an online grain marketplace, an online transport matchmaking service for that grain, a carbon market to give farmers a financial incentive for sequestering carbon with regenerative agriculture, and a data platform underscored by its acquisition of the satellite imagery business TellusLabs," writes AgFunder News.