AGRICULTURE TECH STARTUP BRINGS ACTIONABLE PREDICTIVE ANALYTICS TO GROWERS
CHAMPAIGN, IL., July 21, 2015—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.
Agrible is a recent graduate of the EnterpriseWorks incubator in Champaign, having recently moved into larger space in the University of Illinois Research Park. Serra Ventures is also located in the Research Park; ADM also has a Research Park operation.
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 the Morning Farm Report product. This commercial relationship will give Agrible immediate access to thousands of growers representing million 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.”