- Growers Edge Financial announced that it raised a $40 million Series B round of funding. These are the details.
Growers Edge Financial announced that it raised a $40 million Series B round of funding to accelerate the development and market penetration of its innovative financial technology products, solutions, and tools for the ag industry. This round of funding was led by S2G Ventures, Cox Enterprises, and Skyline Global Partners. New strategic investor Bunge Ventures, the venture capital arm of global agribusiness and food company Bunge Limited and existing investor Finistere Ventures also joined the round.
And the funding round will enable Growers Edge to help more growers de-risk agtech adoption and boost profitability with its customized financial risk management solutions.
Growers Edge helps eliminate the financial risk of agtech adoption for farmers. And Growers Edge 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.
And Growers Edge will use the investment to continue to grow its data science team, develop, advance its AI platform, and expand into new markets across the US and around the globe. And Growers need access to capital to adopt agtech innovations that can make their operations more profitable and more sustainable.
“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.”
— Dan Cosgrove, CEO of Growers Edge
“We are most excited about the growth possibilities for our investment. Because the company does not make seed, inputs or equipment, it is able to leverage its business model across all of agricultural retail. By partnering with existing ag retailers and companies, Growers Edge uses its proprietary data and analytics to develop product warranties that create an economic incentive in favor of technology adoption.”
— Sachin Gupta, co-founder of Skyline Global Partners
“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.”
— Josh McClung, director of Cleantech Strategy and Investments for Cox Enterprises
“Growers Edge has achieved tremendous growth and solidified its position as a key market disruptor by creating a strong network of technology, agent, and farm partners in an extremely short timeframe. Its industry-changing fintech solutions will dramatically accelerate the adoption of sustainable ag innovations, revolutionizing the ag industry and our global food supply chain.”
— Sanjeev Krishnan, CIO of S2G
McClung (Cox Enterprises) and Gupta (Skyline Global Partners) will be joining the Board.