PowerPollen, an agtech company focused on improving agricultural productivity through improved pollination, has successfully closed a $13 million Series B funding round.
The Ankeny-based company will use the funding to accelerate global adoption of its pollination on-demand technology in corn seed production and expand innovation to corn grain, wheat, and rice.
The round will expand PowerPollen’s ability to help customers increase yield and enable product innovation across a wider diversity of hybrids by preserving and applying pollen on-demand. New investor Ag Ventures Alliance and several return investors, including Iowa Corn Growers Association, participated in the round.
“Ag tech innovation and adoption remain critical to helping farmers increase productivity and profitability in a sustainable way. For the first time in history, we have the potential to extend the lifespan of pollen at a commercial scale, and then apply it on-demand in three of the world’s most valuable crops. This innovation is key to unlocking yield and improving quality,” said Dr. Todd Krone, CEO of PowerPollen in an announcement.
PowerPollen takes home $40,000 after winning 2018 Pappajohn Pitch Competition -Sept. 18, 2018
Powerpollen: An AgTech startup turning a problem into a solution -Jan. 22, 2018