Indigo Ag Announces Former Tyson CEO Dean Banks as New CEO, Closes on Nearly $270M
Bioplatform innovation company Flagship Pioneering and sustainable ag leader Indigo Ag have made multiple announcements – one of them an expansion to a very impressive funding round, writes Lynda Kiernan-Stone at Global AgInvesting. But we’ll get to that in a minute.
First, Dean Banks, the former president and CEO of Tyson Foods and a former member of the leadership team at X (an Alphabet company, formerly known as Google [X]), will be joining Flagship Pioneering as CEO-Partner, and will joint Indigo Ag as its new CEO effective February 1, 2024.
Banks brings extensive experience having held numerous leadership and entrepreneurial roles across the sustainable food, agriculture, technology, and life science industries, and will be succeeding Ron Hovsepian, who has been CEO of Indigo Ag since September 2020.
Since his appointment, Hovsepian expanded the company’s leading biological seed treatments platform, successfully produced the world’s first crop of registry-issued ag carbon credits at scale, and oversaw the ongoing development and deployment of second-generation digital merchandising solutions.
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And Now the Funding…
Founded in 2013 within Flagship’s in-house incubator VentureLabs, Indigo Ag is a leader in sustainable agriculture that leverages science and technology to transform sustainability into value through its integrated business platform that allows each user to adopt and profit from their sustainability initiatives.
Following upon Indigo Ag’s prior funding of $250 million announced in September 2023 – which included the State of Michigan Retirement System – one of the largest pension funds in the U.S., and Lingotto Investment Management, a $3 billion fund owned by Exor N.V., one of Europe’s largest diversified holding companies – the company also has announced an expansion of this round for a final close at $270 million.
Read more at Global AgInvesting.
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