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Agrible, an agtech startup located in the Research Park, has raised $9.7 million out of a $15.7 million Series B round of funding. Investors include Maumee Ventures of the Andersons Grain handling company, Flyover Capital, Archer Daniels Midland, Serra Ventures, and a new investor, iSelect Fund, which is a venture capital fund for high net worth investors in the MidWest.
Agrible plans to use some of the Series B funding to increase the number of integrations with third party providers that are looking to be incorporated into Agrible’s platform of products and services. Current integrations include MyJohnDeere, a tool called DriftWatch that measures environmental impact, satellite imagery startup AstroDigital, CropCopter, and more.
Additionally, the funding will go toward scaling the company’s goal of sustainablity. Cynthia Bruno, chief strategy officer at Agrible, believes that this Series B round of funding proves that Agrible is a leader in the agtech industry at working to create a sustainable supply chain.
Since 2007, Agrible has been making strides in the farming and agriculture community and working toward the goal of increasing food production by 60% by 2050.
Founders Bill Northcott, Chris Harbourt, and Paul Miller met in 1997 while working toward higher degrees at the University of Illinois. The three of them realized they had some ideas that were a little too advanced for the technology of the time period, and they would need some help reaching their goals and achieving their dream.
In 2013, Agrible opened an office at the EnterpriseWorks incubator where they had more access to resources that were needed to bring their products to fruition. With the help of resources available at the Park and at the University, Agrible launched its first product, Morning Farm Report, and made connections in the community with growers and other Research Park companies. Venture capital firm Serra Ventures is also located in the University of Illinois Research Park.
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