AgTech Insight Updates Emerging Growth Market Map
By Sara Isenberg
Founder, Publisher, Editor-in-Chief
March 3, 2016 — Salinas, CA
AgTech Insight is targeting $10 million initially for a seed stage fund that will invest in eight to 10 very early stage startups and aims to help incubate them into commercial technologies during the first two years of the investment.
What is Salinas-based AgTech Insight?
They’re a consultancy that helps start-ups and investors deliver the most viable and successful solutions for the future of commercial agriculture worldwide.
“Over the past 45 years, our team members have been integrating the best ideas and advancements available to the agriculture industry. We have designed, built, and implemented new tractor equipment, revolutionized row crop irrigation by incorporating drip tape in Salinas Valley, started drip tape recycling programs and hydrostatic harvesting. We’ve brought dozens of new software solutions to our market, from multiple GPS asset tracking systems to world-leading data collection and remote management. Recently we diversified and significantly improved current monitoring and control systems for some of the largest names in the business.” (Source)
From Agfunders News:
The guys at AgTech Insight, the consultancy company, have started fundraising for a farmer-focused investment fund and accelerator program. The group, which has been helping farmers find the best technologies for their farm as well as nurturing agtech startups, decided to launch the vehicle after seeing interest from the farming community to invest in the technologies they frequently come across, and that could ultimately impact their operations.
“Growers have a ton of people calling them on a weekly basis trying to vet out their ideas, but with no real upside for the farmer, except staying ahead of the curve in terms of the new technologies coming into the market,” said Aaron Magenheim, CEO of AgTech Insight. “So we’ve been thinking a lot about how to facilitate grower participation in the agtech industry, and also how to get that real grower buy-in into these new technologies as they develop into saleable products.”
“By including growers in the process as LPs and advisors, there’s an incentive for them to say ‘we’re invested in this so we will have a ranch manager spend 10 minutes a week with an entrepreneur to tell them what they can do differently’. That’s the thing we all collectively realize: for this industry to be successful, growers have to be involved.”
The group is targeting $10 million initially for a seed stage fund that will invest in eight to 10 very early stage startups and aims to help incubate them into commercial technologies during the first two years of the investment. The fund is likely to take on a typical 10 year VC fund structure but will start investing as soon as the first commitments come in. (Source)
Learn more at http://www.agtechinsight.com/.