Indigo Ag Inc. an agricultural startup specializing in microbial and digital technologies, officially announced in September its launch of Indigo Marketplace™, a digital platform for buying and selling grain.
Indigo, which first launched in 2014 to help farmers improve crop health, made its online grain marketplace available to its network of farmers in June. Since then, growers have entered more than $6 billion in grain inventory and buyers have entered more than 4,000 bids representing over $2 billion in demand, the company said in a September press release.
“Directly connecting growers and buyers is a critical step towards a food system that is responsive to the voices of consumers,” said Indigo President and CEO David Perry, in a press release. “Indigo’s Marketplace enables buyers who want differentiated grain to buy it directly from the growers who produce it and reduces the supply chain costs for the whole industry.”
Buyers can purchase grain directly from farmers using the Indigo Marketplace, as well as select grain by protein content, milling quality or production practices. Growers are paid based on the quality of their crop, which is determined by a sample sent to a third-party for analysis. The company is licensed as a grain dealer in the 40 states in which it currently operates and expects more licenses to be obtained in the coming months.
Indigo also announced in September that it has raised $250 million from new and existing investors, raising its total capital assets raised to more than $650 million.
During the NGFA’s 47th annual Country Elevator Conference in December, Indigo Ag’s head of food and fiber, Ben Allen, will discuss how the company fits within the existing grain industry framework and the changes Indigo’s business model makes to that framework.
In addition, Dudley Stephens, director of crop merchandising at Farmers Business Network, and Brennan Turner, president and CEO at FarmLead, will join Allen during the Dec. 4 panel — “Market Transformers! What the New Business Methods for Buying and Selling Grain and Farm Inputs Are All About.”
Register and view the full agenda and speaker roster for the 2018 Country Elevator Conference and Trade Show, to be conducted on Dec. 2 – 4 at the St. Louis Union Station Hotel in St. Louis, Mo., on the CEC website.