AgFunder, a US-based investment, data and media platform for the agricultural technology industry, has formed a dedicated investment fund and revealed its first three deals.
The company will invest directly in startups through the vehicle and intends to leverage members of its network as co-investors. It expects to make one or two investments each month through the fund.
Solinftec, the Brazil-based developer of a connected farm management software platform has secured an undisclosed amount in a series B round that included AgFunder as well as TPG Alternative and Renewable Technologies, a subsidiary of private equity group TPG.
AgFunder had contributed to a $1.4m seed round for US-based hyperspectral imaging technology startup ImpactVision in October 2017. Acre Venture Partners led the round, which included Xandex Ventures, Merian Ventures and undisclosed angel investors.
The firm had already disclosed its participation in a $4.9m series A round for The Yield, the Australia-based creator of a cloud-based microclimate sensor that captures agricultural data, in April 2017.
The round also featured industrial product manufacturer Robert Bosch and professional services firm KPMG, and increased The Yield’s overall funding to approximately $8.7m.