Indigo Ag raises $250M at a reduced valuation

Indigo Ag

Indigo Ag announced a $250 million fundraise led by existing investor Flagship Pioneering, with new investors including Michigan's state retirement system and Lingotto (a $3B innovation fund owned by European holding company Exor). The capital supports scaling sustainability and carbon programs and advancing a pipeline of biological crop products as 2023 revenues grew 90% year-over-year.

• Funding: $250M+ led by Flagship Pioneering; new investors include Michigan Retirement System and Lingotto Investment Management
• Growth: 2022 revenues up 40% YoY; first seven months of 2023 up 90% YoY
• Use of funds: scaling sustainability programs, advancing biological crop product pipeline, corporate emissions programs
• Market reach: on track to deliver 30 million bushels of sustainably grown grain in 2023; 38 biological products launching globally over 30 months