Radicle designed to support new companies
By Diego Flammini
Assistant Editor, North American Content
Farms.com
Bayer and DuPont are among the investors in Radicle, an accelerator fund designed to help new ag-tech start-ups get off the ground.
The fund is worth a total of $15 million and can offer agricultural technology companies a specialized platform to help solve worldwide farming issues, including seed technology, precision agriculture, genomics and crop protection.
"DuPont Pioneer continually scouts the innovation frontier for novel ways to improve agricultural productivity and seeks to collaborate with those on the cutting edge of science, even at the earliest stages of technology development," said Neal Gutterson, vice president, Research & Development, DuPont Pioneer, in a release. "Radicle's virtual accelerator operating model and investing approach is expected to help Pioneer achieve these objectives."
Businesses benefitting from Radicle funding will have access to leaders in the ag industry, connections with top academic institutions, research institutes representing the public and private sector.
Bayer said being associated with Radicle can help surround new start-ups with an experienced support system.
"Investing in the Radicle accelerator fits perfectly with Bayer's global investment strategy," said Geoff Kneen, R&D Licensing & New Ventures Manager for North America, Bayer, in a release. “The deep ag-tech knowledge and experience of the management team and investment partners will be able to provide strong guidance to the start-up companies.”