#Indigo ag tech software

🇨🇳 Pinduoduo reports first-ever profit, commits $1.5 billion to agtech and rural development. Alexandria Venture Investments, a unit of $30 billion real estate investment trust Alexandria Real Estate Equities, also participated. ADM Ventures, the VC arm of the global food and commodities company Archer-Daniels-Midland, invested in the fund. 🇺🇸 AgFunder raises $21 million for its New Carnivore alt-protein fund. The Covid-19 pandemic led many restaurants and foodservice outlets to accelerate their adoption of ‘contactless’ tech like that offered by Toast. Toast said it plans to raise $100 million from the listing, though Bloomberg noted that was likely to be a “placeholder amount” that would likely change. 🇺🇸 Restaurant payment platform Toast files for IPO. “The IPO and capital sources will take care of itself over time.In news from the world of foodtech and agtech over the past seven days, restaurant payments platform Toast filed for an IPO in the US while VC firm AgFunder closed its latest alt-protein fund, New Carnivore, on $21 million “That’s the big goal for us that we’re focused on,” he said.

But for “right now” the company is focused on growing its businesses and helping improve the planet’s climate, he said. “We’re a good candidate to be a public company,” Hovespian said.

#Indigo ag tech software

While a few tech companies, including marketing software firm Klaviyo in Boston, are planning to go public soon, Indigo Ag will not be among the next wave of startups hitting the stock market. It also included new investors Lingotto Investment Management in London and the State of Michigan Retirement System. The $250 million of new funding came in a deal led by Flagship Pioneering in Cambridge, the original investor in Indigo. The first sale of credits last year covered 22,000 tons of carbon captured in soil and an upcoming sale will include 110,000 tons.

US farmers have added 7 million acres of cropland to Indigo Ag’s carbon credit program so far. It is also expanding sales in Turkey and parts of eastern Europe. Indigo Ag recently got permission to sell its bionematicide treatment in Brazil, which protects soybeans from deadly roundworms known as nematodes. “It’s right around the corner for us,” Hovespian, who took over from prior CEO David Perry three years ago, said. Now the company is approaching profitability and aims to be cash-flow positive by the end of next year, Hovsepian said. The growth comes after Indigo struggled trying to sell grain for farmers and went through a round of layoffs in March. Net revenue increased 40 percent last year compared to 2021 and jumped another 90 percent in the first seven months of 2023, the company said without giving more specific figures. The company has also built a service to help farmers sell carbon credits when they use carbon sequestration techniques like planting cover crops. It’s still in that business today, developing seed and crop treatments to boost yields, resist pests, and improve drought survivability. Indigo Ag was formed in 2013, originally called Symbiota, by Flagship Pioneering and Moderna cofounder Noubar Afeyan and others to take advantage of biotechnology techniques to find naturally occurring microbes that could help farmers.

Related : Boston company says agriculture might hold one solution for reducing greenhouse gas emissions