Ag Tech Investments News
Elanco Leads Investment in RTP’s AgTech Accelerator.
AgTech Accelerator™, a unique startup accelerator vehicle focused on discovering and developing emerging agricultural technology companies, today announced the closing of an additional $8.5 million in financing, nearly doubling its capital since the initial launch in May 2016. The additional financing brings its total capital commitments to $20 million.
Elanco, a leader in developing products and knowledge services to improve animal health and food production, led the round with participation from existing investors, including Bayer, Syngenta Ventures, Alexandria Venture Investments, ARCH Venture Partners, Flagship Ventures, Harris & Harris Group, Inc., Hatteras Venture Partners, Mountain Group Capital and Pappas Capital.
Elanco, a division of Eli Lilly and Company, is a global company that values innovation, both in scientific research and daily operations.
President of Elanco and senior vice president of Eli Lilly and Company Jeff Simmons said, “We look forward to joining AgTech Accelerator in working collaboratively across the agriculture technology continuum to bring new ideas to life. We believe this effort can make a difference in shaping a future with sustainable health outcomes for people, animals and the planet.”
Elanco represents an important addition to AgTech Accelerator’s strategic investor syndicate, which consists of the world’s foremost leaders across the agricultural technology continuum.
Through its efficient operating platform and deeply experienced team, AgTech Accelerator provides all the necessary resources for the next generation of innovative startups to successfully develop the most promising agriculture-focused technologies addressing the world’s growing population, related food and water shortages and supply chain constraints.