Agrible, Inc., an agriculture technology start-up focused on predictive analytics, today announced a $4.1 million Series A round of funding. Serra Ventures is leading this round of investment and is joined by Archer Daniels Midland Company (ADM).
Founded and grown in the Midwest, Agrible, Inc. produces actionable predictive analytics tools that help growers and agricultural companies increase yields and profitability through field-specific data and forecasts. In February 2015, the company launched Morning Farm Report, the delivery infrastructure for its four products: Rainfall, Field Intel, Tractor Time, and Yield Engine.
Morning Farm Report provides highly accurate forecasts and data on fieldwork logistics, yield estimates, rainfall, growing degree days, and more, through annual subscriptions to each product. Morning Farm Report not only reports what has already happened on a field, but also provides growers with forecasts and actionable recommendations to help with decision making.
‘What Agrible is delivering with Morning Farm Report is cutting-edge predictive analytics technology that hasn’t been seen before,’ said Agrible CEO Chris Harbourt. ‘The majority of our team has a background in agriculture, and it shows. You can feel the energy and expertise of our team in the software we produce and the actionable analytics we provide.’
As a part of the investment round, ADM will help to facilitate the distribution of Morning Farm Report. This commercial relationship will give Agrible immediate access to thousands of growers representing millions of acres of farmland throughout the Midwest.
In addition, this funding will allow Agrible to expand its team and continue improving Morning Farm Report. Development will also begin on new tools to influence the future of agriculture.
‘We’re excited to work with Agrible as they grow and continue to build on existing revenue channels,’ said Dennis Beard, Partner with Serra Ventures. ‘The relationship Agrible has developed with ADM represents a stamp of approval on the uniqueness of their products and vision. We have been excited about ag data opportunities for some time and feel that the Agrible team has the experience, ability, and technical know-how to be very successful.’
About Agrible, Inc.
Agrible provides actionable predictive analytics tools to growers all across the world. We predict how weather will impact crops, agricultural operations, and economic decisions. We aim to make big data helpful instead of overwhelming, to innovate within existing production methods, and to be the leading voice of recommendations for our agricultural partners. Above all, we value the role of the farmer, and work tirelessly to bring the most accurate, practical information to those who need it.
About Serra Ventures
Serra Ventures is a seed and growth stage venture capital management firm that makes equity investments in compelling opportunities in the areas of information technologies, devices/instrumentation, material sciences and agriculture technologies. Serra sources investment opportunities through its deep relationships in emerging Midwest technology hubs. Serra is currently investing from its second fund, Serra Capital II, LP.
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