May 22, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

AGCO, a leading designer, manufacturer, and distributor of agricultural machinery and precision ag technology, announced an investment in the Innova Ag Innovation Fund VI as the first investment executed by AGCO Ventures – its recently launched corporate venture capital initiative.

AGCO explained that this investment aligns with its mission to support the next generation of farming through advanced solutions that bring the promise of a more automated, digitized, and sustainable future for agriculture.

It also reflects AGCO Ventures’ mandate to actively connect[s] AGCO’s business needs with industry and market perspectives to identify investment and engagement opportunities in corporate venture funds, start-up companies, incubators, accelerators, higher education and research institutions.

Through this partnership, AGCO plans to leverage Innova’s expertise and its team’s reputation for its focus on identifying and nurturing early-stage, high-potential startups that are revolutionizing agriculture. 

Founded in 2007, Innova has invested in more than 125 companies across the U.S. through its five investment funds totaling over $110 million. Currently, the team is focusing on identifying novel solutions and addressing agriculture’s chronic labor shortage, supply chain deficiencies, margin pressures, and increased demands for transparency and sustainability. 

“We are excited to announce our investment in Innova Ag Innovation Fund VI, a move that reflects our unwavering commitment to pushing the boundaries of what’s possible in agriculture,” said Seth Crawford, senior vice president, AGCO and general manager, PTx. 

“This partnership enables us to tap into the latest innovations in the field, from automation and digitization, to sustainability and efficiency, ensuring that we continue to provide our customers with the most advanced and effective solutions on the market.”

“We are immensely proud to partner with AGCO, a true leader in the agricultural sector, whose commitment to innovation and sustainability mirrors our own,” added Dean Didato, partner, Innova. 

“This collaboration represents a unique synergy between AGCO’s industry expertise and our vision for a technologically advanced farming future and revitalized rural economies. Together, we are set to empower the brightest minds in agriculture, driving transformative solutions that promise to enhance farm productivity and profitability and secure a sustainable future for our planet.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and Agtech Intel News. She can be reached at lkiernan-stone@globalaginvesting.com.

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