ADM Buys Stake in Startup Farmers Business Network

Deal values agtech startup at $3.9 billion; ADM says it will help monitor crops’ carbon footprint

The Wall Street Journal
By Kirk Maltais
November 19, 2021

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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