The world’s biggest agtech startup appears poised to grow even bigger this year with a multi-billion-dollar valuation just four years after launching out of Boston. (When we say “biggest”, we are using valuation to determine “biggest”. Valuation refers to what investors are willing to pay for shares when they invest, and consequently, these valuations will increase, decrease or stay the same, based on the latest funding round.)
The world’s biggest agtech startup appears poised to grow even bigger this year with a multi-billion-dollar valuation just four years after launching out of Boston. (When we say “biggest”, we are using valuation to determine “biggest”. Valuation refers to what investors are willing to pay for shares when they invest, and consequently, these valuations will increase, decrease or stay the same, based on the latest funding round.)
PitchBook Data, a firm that provides research and data on private markets, recently reported that Indigo Ag is looking to raise up to $300 million, which would give it a valuation of $3.5 billion. Founded in 2014, Indigo has already reaped $359 million over five rounds (though the last was technically a continuation of a Series D that reached $203 million last year), according to Crunchbase. Pitchbook actually pegs equity funding slightly higher at $367 million. Either way, Indigo currently carries a $1.4 billion valuation, per both PitchBook and fellow data firm CB Insights.
Timing is everything. About a week after we published our list of top-funded agtech startups last September, Indigo doubled its war chest to surpass vertical farming startup Plenty Inc. as the world’s most well-funded agtech startup. Plenty has raised a total of $226 million, including a $200 million round in 2017 from free-spending SoftBank. In fact, last year was a good one for agtech, a broadly defined technology sector that includes everything from agricultural robots to Internet of Things aquaculture. Pitchbook says a record $1.8 billion was invested in agtech companies last year over 221 deals.
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