US-based agricultural company The Andersons has established a corporate venturing unit called Maumee Ventures, to foster technology compatible with its business.
Maumee will focus on comapnies developing technology involving plant nutrients, the grain supply chain, freight logistics, precision science, food safety and renewable energy.
The unit is seeking investment opportunities at series A or B stage, and will invest between $500,000 and $5m each time. It would also consider later stage investments for the right product and team.
Joe Needham, managing partner of Maumee Ventures, said: “Our goal is to leverage our unique capabilities to accelerate the growth of these innovations.”
Founded in 1947, The Andersons conducts business across North America in the grain, ethanol, and plant nutrient sectors, as well as railcar leasing, turf and cob products and consumer retail.