Agtech - So What?

There’s nothing like the end of another year to have us reflecting on the recent successes in the world of agtech, and the many challenges still left to overcome. One thing that has continued to stand out to us in 2024 is the vital need for more business model innovation. There’s so much amazing technology that already exists, but for one reason or another, it is not getting adopted or utilized; it’s not delivering on the promised impact or commercial potential. Over the last twelve months we’ve talked to countless entrepreneurs and innovators who are finding novel and fascinating ways to overcome business model barriers, even when they aren’t using those words to describe their efforts. So this week, Sarah is sitting down with Tenacious Ventures Managing Partner Matthew Pryor to connect the dots on business model innovation that we’ve discussed in different podcast episodes all year long. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

The history of agriculture is a history of selective breeding. Whether it’s plants or animals, humans have been choosing desirable traits and making sure those traits make it to the next generation for tens of thousands of years. The challenge of this work is, of course, the timeline. Groundbreaking and world-changing advances are possible, but we are limited by seasonality, gestation periods, and even by the level of expertise required to effectively perform the high-tech work. This is the challenge that Tenacious portfolio company Nbryo is tackling– shortening the timeline for genetic advancements in livestock. This week, we’re sitting down with Gerard Davis, CEO of Nbyro, to discuss his unconventional journey to the startup, the work the company is doing, and why he thinks genetic interventions are critical climate work. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

Despite its importance to both agricultural and environmental outcomes, irrigation has not been a terribly successful subsection of agtech. We have our theories about why that is (we wrote a whole report about it, The agtech adoption dilemma: Irrigation), and many others have also spotted the challenges in this space. But when Jairo Trad and his team dug in, they saw an opportunity for business model innovation. Their path, via Argentinian agtech company Kilimo, has been far from smooth, but where they’ve ended up seems to be a unique unlock for adoption and value capture. This week, we’re sitting down with Jairo, CEO and Cofounder at Kilimo, who’s spent the last 14 years expanding the boundaries of the ag-water system to find the right answer to the question “who pays for water efficiency improvements.” For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

Depending on where you sit, the supremacy of ESG (Environmental, Social, and Governance) action seems inevitable. Corporates are talking about. Investors are talking about it. Governments, regulators, and even farmers are talking about it. And yet for many of us, the questions of what exactly ESG is, what pursuing these goals means, and how soon acting on them will be mandatory remain unanswered. Then just when it feels like we start to get a handle on a definition or a timeline, you leave one geography and enter another, and it seems like all the rules have changed! This level of ambiguity has piqued our interest to learn more about trends in ESG, global variations in ESG practices, and what the future might hold. So this week, we’re sitting down with Catherine Marriott, recent Nuffield Australia Awardee, who has spent the last year traveling around the world to learn about the current and future state of ESG in agriculture.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

Farmland has long been a popular asset among investors for its steady appreciation and resistance to economic downturns. At the same time, farmland is also a challenging asset at times, especially for farmers looking to expand, given farmland comes up for sale so infrequently and is so valuable. In the space between these two needs is where Fractal Agriculture has set up shop, connecting the dots between farmers seeking capital and investors looking to benefit from farmland investments. And for good measure, sprinkle in some regenerative ag practices for risk mitigation on both sides of the ledger. Today, Sarah and Shane Thomas, author of Upstream Ag Insights, sit down with Ben Gordon, co-founder and CEO of Fractal Ag, to break down the pitch in real time. Along the way, they share insights, ask questions, and decide whether they’d invest in the endeavor.  For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

When it comes to leveraging capital to fund climate action in agriculture, few ideas get as much play as regenerative agriculture. The idea of production that can not only be sustained but that can actively help renew resources has captured imaginations within the sector and without, giving life to events like the Regenerative Food Systems Investment Forum, where the faithful share strategies to incentivize investors to sink their resources into these solutions. Sarah is headed to the RFSI Forum this year (October 9th and 10th in Denver, Colorado), and to get a jump on the valuable discussions, we’ve invited conference speaker Calla Rose Ostrander, Co-Founder and Managing Partner Terra Regenerative Capital, joins us today to talk about her journey to the important and challenging work of investing in regenerative ag opportunities.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

There are many parts of the US that are at risk for severe drought and heat in the next 30 years due to climate change. But then there’s Kansas, where some growers pull irrigation water from a particularly vulnerable part of the gigantic Ogallala aquifer, which according to the latest science, may well be fully depleted by 2050. Western Kansas isn’t exactly the heart of the corn belt, but farming in the region does support substantial nearby livestock industries, including large confined dairy and beef cattle operations. If feed becomes sparse, or must come from more expensive, more distant geographies, the regional economic disruptions could be vast.Dan Northrup, part of Galvanize Climate Solutions’ Science and Tech team and an Associate Professor at Iowa State University, joins us today to talk about the risks, and opportunities, that this kind of water vulnerability introduces, and where he thinks public and private investors can act now. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

Despite challenging conditions in financial markets the world over, ambitious entrepreneurs find a way. There are few sectors where that is more true than in agriculture, and despite the industry’s reputation for convention and conservatism, challenging times call for creative measures, and farmers are nothing if not creative. To learn more about innovative farm business models and the cutting edge of farm financial strategies, we invited Quint Pottinger, Owner of Affinity Farms in Kentucky, USA. Quint is not only bringing in hedge fund investors, he’s selling all his crops– corn, soybeans, wheat, and rye– into specialty markets and finding hefty premiums for doing so, all while improving his local community’s sustainability and creating a transformed future food system where his farm will thrive.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

We’ve been thinking (and talking, and writing) a lot lately about the forces that are shaping the future of agriculture. There are the more obvious ones– artificial intelligence and mandatory climate disclosures– to the less obvious, like the ubiquity of remotely sensed data and geoengineering. All of these forces, and others like them, are not only acting on ag and the institutions the industry depends on, they’re also acting on one another, evolving and compounding all the time.  We investigated these forces, and four critical scenarios that they might create, in our latest report, Navigating a Future of Cross-Sectoral Forces, commissioned by AgriFutures Australia. This week, Tenacious co-founders Sarah and Matthew are joined by research collaborator Sarah Mock and Shane Thomas, author of Upstream Ag Insights. Together, they discuss: For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

When people talk about the impacts of climate change on agriculture, they usually use the future tense. The reality, though, is that climate change already is, and has been, changing global conditions enough to cause meaningful shifts in agricultural production. Case in point, where Florida was once known both nationally and globally as the US’s citrus powerhouse, today the groves are moving North, where farmers in Georgia are starting to establish citrus production with aplomb.To learn more about this story of adaptation and resilience, we invited Lindy Savelle, self-proclaimed Orangepreneur at JoNina Farm and a founder and leader of Georgia Grown Citrus.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

Not too long ago, we co-published a paper on the future of AI called “Yield Maps Killed AgTech Software, Can AI Save It?” and got a ton of great responses from across the industry. One such responder wrote in from his seat at the Syngenta Group, where he’s helped the organization go from zero to 250 million acres digitally served in just five years. Feroz Sheikh, Chief Information and Digital Officer at Syngenta Group, offered some incredibly nuanced responses to the limitations and opportunities in this space, and we knew we wanted to have him come on to talk more about his internal perspective on evaluating AI, advancing digitization goals in a legacy ag organization, and what he see in the future of ag software. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

This week, we’re breaking down the freshest announcements from the agribusiness, agtech, and broader policy and tech worlds to share insights and ask “so what?” Sarah and Matthew are joined this week by Shane Thomas, author of Upstream Ag Insights.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

For better or worse, the biologicals space is still in the process of repairing a reputation that was marred by years of over-promising and under-delivering. Yet big advances have been made in recent years, helping improve agricultural productivity while reducing the industry’s dependence on chemical pesticides and fertilizers. But discerning between new wave innovation and their more snake-oily predecessors isn’t always easy– so we wanted to sit down with an expert who’s been doing this work for decades. (Note: if you’re new to learning about biologicals, check out “Biologicals: snake oil or science, and how do we know?” before you dive into today’s episode for important background.) This week, our guest is Joel Lipsitch, Founder at Blair Road Consulting and an expert in biological products and businesses. Joel guides through his thinking on topics including:The red and green flags he looks for when evaluating biological companies, from the science to pricing modelsHow to expect companies to bridge the gap between the lab and the field, and what it looks like when they succeedThe biological go-to-market strategies that have proven the most successful, and where future business model opportunity is likely emergingUseful Links:Biologicals: snake oil or science, and how do we know?The challenges & opportunities for biologicals in agBiologicals and chemistry: finding ways to commercialize the scienceInvesting Beyond the Farmgate with Ben Barlow, New Edge MicrobialsThe Tricky Business of Scaling Soil Tech - Adam Litle, CEO, Sound AgricultureGenerics, Biologicals, and the Volatile Farm Inputs Market with Sam Taylor, RabobankThe Battle for the Future of Crop ProtectionFor more information and resources, visit our website.The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

We are certainly not alone in our interest in how artificial intelligence will shape agriculture in the coming years. We’ve been learning out loud about both the tech that might emerge, but also about how AI might shape existing tools, especially agtech software. In our recent report, Yield Maps Killed AgTech Software, Can AI Fix It?, we put forward some of our research and theories, and we got a ton of great feedback. Today, we’re going to respond to some questions and discuss further learnings from the report. Joining me in the task is both my co-founder Matthew Pryor and Rhishi Pethe, author of Software is Feeding the World. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

As the US works to hammer out requirements for sustainable aviation fuel tax credits, the potential for the airline industry to open a huge new market for oil seeds has watchers in the sustainability space wondering what’s next. Will the opportunity for agtech to provide producers with the tools they need to meet production requirements and prove sustainability credentials be substantial?The sustainable aviation fuel market is evolving rapidly, and we wanted to know more. This week, our guest is Cris Handel, Global Sustainability Officer at Valent Biosciences, Fractional COO at New West Genetics, and Former COO at Covercress. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

This week, we’re breaking down the freshest announcements from the agribusiness, agtech, and broader policy and tech worlds to share insights and ask “so what?” Sarah is joined this week by Shane Thomas, author of Upstream Ag Insights.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

At the intersection of ubiquitous and affordable cameras and internet connections, growing farm sizes, and increasing environmental and social vulnerabilities sits the opportunity of farm security. The number of applications for this kind of remote monitoring are endless– from discouraging stock and equipment theft (or solving cases after the fact), to detecting bushfire conditions, to marketing properties and land-based opportunities like hunting. Though simple cameras and video feeds might not seem like the kind of amazing, futuristic tech that really gets people excited, these tools - paired with the processing and detective power of AI and machine learning - have the possibility to unlock a ton of value without huge capital investments. Today, we’re learning more about one business here in Australia that’s tackling the farm security space, and seeing it grow and transform rapidly before their eyes. Our guest is John Hill, National Sales Director at Land Watch Australia, who discusses:For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

The modern fashion industry creates a ton of waste. From the field to the cutting line, to the supply chain and consumers' closets, today’s ultra-cheap “fast fashion” obsession means everyday a lot of fiber gets carted off to landfills around the world. Some amount of that fiber however– especially cotton– is not only biodegradable, it can actually be a valuable addition to soils, especially in dry climates where fibers help hold water. This fact has spurred researchers and farmers in Australia, alongside the Cotton Research Development Corporation (CRDC), to begin experimenting with turning waste fiber into a soil amendment, returning cotton to whence it came and at the same time, removing bulk from overcrowded dumps and investing in a more circular future for the industry. To explore this ongoing work, Sarah is joined this week by Sam Coulton, a third generation Queensland cotton grower and owner of Gondiwindi Cotton. For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

As the world continues to get more crowded and less climatically predictable, the risk of biosecurity issues– from pest and disease invasions to food security and environmental health concerns– is only growing. Science and technology have major roles to play in helping us prepare for possible risks, and deal with them when they arise. Today, we’re tackling these issues in one geography, Australia, in order to better understand the economic, environmental, and technological threats and opportunities that are in play related to biosecurity, and how they might be set to evolve in the future. Our guest is Sarah Britton, Founder at One Biosecurity Solutions.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.

This week, we’re breaking down the freshest announcements from the agribusiness, agtech, and global ag policy worlds to share insights and ask “so what?” Sarah is joined this week by Tenacious Ventures Managing Partner J. Matthew Pryor and Shane Thomas, author of Upstream Ag Insights.For more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness.