Lewis & Clark Ventures, a venture capital firm focused on Series A and B stage investments, has announced $20 million of new capital to drive agriculture innovation.
Founded in 2015, Lewis & Clark Ventures has raised a family of venture capital funds to support the highest potential startups in the Midwest. The funds focus on sectors such as agricultural technology, enterprise software, healthcare technology and financial technology. With a total of $124 Million raised to date, Lewis & Clark Ventures has invested in innovative companies including OneSpace, Adarza Biosystems, and SpringBuk.
The new commitment augments the $104 Million that Lewis & Clark Ventures raised in 2015. It will focus on companies that improve plant yield, increase energy efficiency, boost farmers’ productivity, or streamline the distribution chain from farm to consumer.
“The Midwest is emerging as a driver of global innovation, and one of our primary competitive advantages is in the field of plant sciences,” said Tom Hillman, General Partner at Lewis & Clark Ventures. “The robust ecosystem we have has spurred the formation of many new startups as well as attracted others both domestically and abroad, and more investment in this underserved and high potential sector is long overdue.”
The firm is targeting several areas for opportunity in agriculture technology including precision agriculture, plant genomics, soil and crop technology, biomaterials, food sustainability, irrigation and water solutions.
“St. Louis has become a center of influence for agriculture technology with its many organizations like the Donald Danforth Plant Science Center, which is the world’s largest independent research institute focused on plant science, along with Washington University, Monsanto, Yield Lab AgTech accelerator and more,” said Brian Hopcraft, Managing Director at Lewis & Clark Ventures. “With these regional strengths, we are seeing a lot of innovative companies and look forward to backing the most promising among them.”