Archer Daniels Midland Co. invested in Farmers Business Network and announced a partnership with the agricultural technology firm aimed at making it easier to track the carbon footprint of crops from the planting stage.
This latest fundraising round valued Farmers Business Network at $3.9 billion, a spokesperson for the company said. ADM said it made an equity investment through its venture-capital arm, but declined to disclose the size.
Fidelity Investments Inc. is the lead investor in this round. Others include LK Advisers Ltd, Colle Capital Partners, Walleye Capital LLC and Tudor Investment Corp. Investors from previous rounds, including BlackRock Inc., DBL Partners and Temasek Capital Management Pte Ltd., participated in the latest fundraising.
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