AGCO invests in Innova Ag Innovation Fund VI
Agco, active in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced its recent investment in the Innova Ag Innovation Fund VI of venture capital firm, Innova Memphis.
This fund investment is the first executed by Agco‘s recently launched corporate venture capital initiative, Agco Ventures. The deal aligns with Agco’s approach to support the next generation of farming through advanced solutions that promise a more automated, digitized and sustainable future for agriculture.
“This partnership enables us to tap into the latest innovations in the field,” said Seth Crawford, AGCO Senior VP. The Innova team is renowned for its focus on nurturing early-stage startups revolutionizing agriculture.
Through this partnership, Agco intends to leverage Innova’s expertise in identifying and supporting high-potential startups at the forefront of agricultural technology.
“We are immensely proud to partner with Agco, a true leader in the agricultural sector, whose commitment to innovation and sustainability mirrors our own,” said Dean Didato, a partner at Innova. “This collaboration represents a synergy between Agco’s industry expertise and our vision for a technologically advanced farming future and revitalized rural economies.”
About Innova Memphis
Founded in 2007, Innova is an early-stage investor focused on starting and funding high-growth companies in AgTech and MedTech. The firm has invested in over 125 companies across the United States from its five investment funds, totaling over $110 million. Currently, Innova is looking to invest in novel solutions that address agriculture’s chronic labor shortage, supply chain deficiencies, margin pressures, and increased demands for transparency and sustainability.
