Six agriculture technology startups joined the seventh batch of Wells Fargo Innovation Incubator (IN2), the cleantech-focused accelerator sponsored by financial services firm Wells Fargo, yesterday.
Wells Fargo founded IN2 in 2014 in partnership with the US Department of Energy’s National Renewable Energy Laboratory. Agtech was added to its remit in 2018 to reflect farming’s carbon footprint.
The participants are crop protection product developer AgroSpheres, cultured plant cell production business Chi Botanic, crop breeding automation and data analysis provider EarthSense, recycled biofertiliser producer Mobius, pest control product developer Pluton Biosciences and legume tree breed creator TerViva.
Each participant will receive technical assistance worth up to $250,000, as well as opportunities to secure follow-on funding from IN2’s partners.
There have been 46 IN2 portfolio companies to date, raising a total of $313m of external follow-on funding. The latest batch was identified through its channel partner initiative, which links 63 US-based accelerators, universities and industry consultants.