Funding round
Indigo Ag Growth
Reported as "Growth Equity"
Indigo Ag, which works in sustainable agriculture solutions in Boston, raised $250M in a Growth round announced on 15 Sep 2023, led by Flagship Pioneering. 3 firms took part, 1 of them already investors. It is Indigo Ag's fifth venture round on record; the one before was a Series F in Aug 2020.
$250M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Indigo Ag did not disclose a valuation in this round; its last disclosed one was $3.50B at the Series F (Aug 2020). It came 37 months after Indigo Ag's Series F. It is 21% of the $1.16B Indigo Ag has raised in the venture rounds on record. No later venture round is on record for Indigo Ag.
Indigo Ag's funding rounds
Indigo Ag has 5 venture rounds on record. This one is highlighted.
- Series C 21 Jul 2016, led by Alaska Permanent Fund Corporation $100M
- Series D 6 Dec 2017, led by Investment Corporation of Dubai $203M
- Series E 18 Sep 2018 $250M$3.50B post-money
- Series F 4 Aug 2020, led by Alaska Permanent Fund Corporation and Flagship Pioneering $360M$3.50B post-money
- Growth this round 15 Sep 2023, led by Flagship Pioneering $250M
Investors
Who put money in
Flagship Pioneering led the round with 2 other firms. Flagship Pioneering had backed Indigo Ag before.
Lead investor
- Flagship Pioneering existing investor
Also in the round
- State of Michigan Retirement System new investor
- Lingotto Investment Management new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
22 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $70M, and this round was 3.6 times the median. The closest in time, other companies' Growth rounds in Chemicals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| BioFirst Group Chemicals | 30 Sep 2023 | $423M | not disclosed | not named |
| Chemicals | 12 Oct 2023 | $325M | not disclosed | Macquarie |
| Chemicals | 11 Jul 2023 | $80M | not disclosed | Blue Earth Capital |
| Chemicals | 18 Jul 2023 | $28M | not disclosed | not named |
| Chemicals | 5 Jun 2023 | $78M | not disclosed | Paine Schwartz Partners |
| Chemicals | 27 Jun 2023 | $30M | not disclosed | Equinor Ventures |
| Chemicals | 31 May 2023 | $50M | not disclosed | Indigo Partners |
| Chemicals | 15 Feb 2024 | $150M | not disclosed | HAL Investments |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Indigo Ag raise in its Growth round?
Indigo Ag raised $250M in its Growth round, announced in Sep 2023.
Who led Indigo Ag's Growth round?
Flagship Pioneering led it, with State of Michigan Retirement System and Lingotto Investment Management.
What was Indigo Ag's valuation at the Growth round?
It was not disclosed; its last disclosed one was $3.50B at the Series F (Aug 2020).
How does it compare with other Growth rounds in Chemicals?
22 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $70M, and this round was 3.6 times the median.