How a Billion-Dollar Farm-Tech Startup Stumbled, Then Revamped – The Wall Street Journal

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When a Boston-based mostly tech startup conagencyed John Creighton In all probability The biggest prices for his corn he’d seen in years, the farmer signed As a lot as promote 75,000 bushels by way of its community.

What adopted have been months of problems. The agency’s paperwork, which farmers Rely upon To hint grain extreme quality and deliveries, was A multitude, Mr. Creighton said. Vans typically arrived On the farm to make decideups Inside the midst of the Evening time, And a quantity of completely different An excellent deal of his grain went lacking. Months handed with out full cost on the grain, versus the 72-hour turnaround with native elevators. He was paid, he said, after threatening to complain to regulators.

“That they had a good gross sales pitch,” said Mr. Creighton, who farms in Illinois and Dealt with Indigo in 2019. “It Turned An complete cluster.”

The supply of Mr. Creighton’s frustration was Indigo Agriculture Inc., a startup that had set its sights on the U.S. Farm Belt with an idea To make the most of slicing-edge know-how to reshape the agriculture enterprise.

Rather than promoteing On to native co-ops or to the handful of monumental corporations that buy grain, farmers might use a platform To Search out consumers anyplace and decide Definitely one of the biggest worth provided. Indigo would additionally market particular microbes to make seeds extra productive, and farmers might enter a program to promote whOn they produced from these at assured, premium prices.

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