Hi Fidelity Genetics (HFG), a computational crop breeding company, announced it has closed an $8.5 million Series A round of financing co-led by agtech investment pioneers Fall Line Capital and Finistere Ventures. Gro Alliance, KdT Ventures, Prairie Crest Capital, S2G and Tom Farms also joined the round.
“In agriculture, the most consolidated point of value and technology is genetics because the only thing a farmer actually has to buy to be in business is a seed. Unfortunately, many farmers don’t have access to high-quality genetics at reasonable cost,” noted Dr. Spencer Maughan, co-founder of HFG and Finistere Ventures. “By using novel data sets and predictive data science to create the first end-to-end predictive breeding platform for crops, HFG is changing this paradigm and empowering farmers.”