Growers Edge secures $40 mn in Series B, for bolstering Agtech innovation

By Pavithra R

Growers Edge Financial, providing farmers with income assurance through data-driven FinTech solutions has announced that the company has closed a $40 million Series B round of financing to accelerate the development and market penetration of its innovative FinTech products, solutions and tools for the ag industry.

The investment round was led by S2G Ventures, Cox Enterprises, and Skyline Global Partners. The round also saw participation from new strategic investor Bunge Ventures, the venture capital arm of global agribusiness and food company Bunge Limited, and existing investor Finistere Ventures.

The firm is planning to use the finance to help growers de-risk agtech adoption and boost profitability with its customised financial risk management solutions. The investment will help grow the FinTech’s data science team, develop and advance its artificial intelligence (AI) platform, and expand into new markets across the United States and around the globe.

“Agriculture fintech is core to the future of sustainable farming. By providing products that enable farmers’ long-term resiliency, we are targeting the foundational needs of farmers – financial and environmental health. We believe these solutions can fundamentally change and accelerate the trajectory of agriculture’s technology adoption and impact sustainability on a global scale,” said Josh McClung, director of Cleantech Strategy and Investments for Cox Enterprises.

Josh McClung, Cox Enterprises, and Sachin Gupta, Skyline Global Partners will join the board. Growers Edge helps eliminate the financial risk of agtech adoption for farmers. The company gives farmers access to tailored financial solutions that provide the economic incentives and data backed prescriptions needed to effectively deploy agtech tools that can help them thrive in any economic climate.

“Demand for data-driven financial solutions that can meet the ag industry’s unique needs to increase both sustainability and profitability is intensifying. Growers Edge is committed to closing current financial gaps so all farmers and agribusiness players can fully embrace the next era of agtech adoption and sustainable ag. Tapping the expertise and expansive networks of our exceptional investor team, we want to serve as the catalyst for widespread, global adoption of the technologies that can improve farmers’ lives, ensure food security and make ag more sustainable,” said Dan Cosgrove, CEO of Growers Edge.

Recently, Apiture raised $20mn in funding to enhance Digital Banking offerings.

Founded in 2017, Growers Edge Financial is a FinTech company providing innovative financial solutions serving the agricultural sector enabling farmers to adopt new technologies and to increase profitability and gain income assurance.