Durham-based agriculture technology startup accelerator AgTechinventures is seeking more than $700,000 in an equity raise, according to a regulatory filing. http://agtechinventures.com/index.html
The company filed to raise $1.5 million in 2014, but the U.S. Securities Exchange Commission document does not indicate any was sold.
The current filing is for an offering of $741, 425 in equity, a rather unusual number.
Ag Techinventures develops promising intellectual property in agbiotech, infotech/precision agriculture, and bio-renewables to form new spin-off companies to address the unmet needs of the agricultural industry.
It uses a broad scouting and evaluation process to identify promising ag tech from university research labs and small scientific companies.
Tom Christensen is CEO. He was previously president of Argradis Inc., which Monsanto acquired in 2013.
Karen LeVert, well known in the Triangle as co-founder of Southeast Techinventures Inc., a technology accelerator focused on migrating promising technologies from university research labs to the commercial marketplace. She is a former recipient of the CED’s North Carolina Entrepreneur of the Year award.
Ag Techinventure’s current portfolio of spin-offs include:
- Biotality, which creates and develops effective, safe, and sustainable crop protection products that are targeted to the organic and “green” crop protection markets. It’s first product is a proprietary organism that produces a highly fungicidal substance.
- Edison Agrosciences is an agricultural biotechnology company dedicated to engineering plant-based production of industrial materials, with a primary focus on the development of alternative rubber crops.
- Rx Maker develops crops, soils, and weather algorithms that will be used to create new data layers. These new data layers will be used to drive selection of crops, crop varieties, fertilizer nutrients, soil amendments, and biological products as well as their respective application rates to agricultural production fields