- Indigo announced it has raised $200 million in funding, including $175 million in convertible equity and $25 million in debt
Indigo announced it has raised $200 million in funding — which is comprised of $175 million in convertible equity and $25 million in debt thus bringing its total capital raised to approximately $850 million. The $200 million funding round includes new investor FedEx and new lender Pacific Western Bank as well as existing investors.
Ever since Indigo’s last round of funding in September 2018, the company launched and expanded its key business lines like Indigo Grain Marketplace, Indigo Carbon, and Indigo Transport to de-commoditize agriculture. This round of funding will be used to support the continued global development of Indigo Grain Marketplace, an e-commerce platform for direct grain transactions along with Indigo Carbon — which is a market providing farmers with a financial incentive to enrich their soils while addressing climate change.
“Indigo and The Terraton Initiative offer promising solutions to address climate change,” said Frederick W. Smith, Chairman of FedEx. “The sustainability of our environment is a strategic focus area for FedEx, and we look forward to supporting Indigo’s efforts to transform agriculture into a scalable, affordable, and immediate approach to reducing atmospheric carbon dioxide.”
The Indigo Grain Marketplace platform has seen month-over-month transaction growth of 50%-100% during the second half of 2019. And since its public launch in September of 2018, over $300 billion worth of bids has been placed through Indigo’s Grain Marketplace.
“In the past year, Indigo has seen continued growth across all of its business lines, from Grain Marketplace to Carbon to Transport,” added David Perry, CEO of Indigo Agriculture. “With over 10,000 growers and nearly half of all buyer facilities in the U.S. enrolled in Grain Marketplace, we are seeing a shift towards the use of technology to create a de-commoditized market.”
Perry also explained that in 2020, Indigo intends to focus its efforts on the marketplace businesses that are experiencing exponential growth. And the company has a goal of generating positive operating cash flow near the end of the year and for the full year 2021.
Trending on Pulse 2.0
- VMware Finalizes The $2.7 Billion Acquisition Of Pivotal
- PwC Reveals Why Its $3 Billion Upskilling Program Is Important For Society
- LinkedIn CEO Jeff Weiner: 'Satya Has Made Good' On Microsoft's Acquisition Agreement
- How Google Is Using AI To Improve Breast Cancer Screening
- Pepsi Has A New Tagline: ‘That’s What I Like’