SVG Ventures Announces its THRIVE V Seed Accelerator Cohort

 

 

April 4, 2019— Los Gatos, CA– The SVG Ventures-THRIVE AgTech platform announced today the nine startup finalists that comprise its 5th annual seed accelerator cohort.

Following 6 months of rigorous research and analysis these nine companies were selected from a global applicant pool of 275 companies across 67 countries. SVG Ventures-THRIVE will invest $100k in each company bringing their total investment portfolio to 39 companies and making them one of the most active AgTech investors in the sector.  Additionally SVG recently held a THRIVE-X Challenge at SXSW and invested $100k in the winning company, Agshift, and has also made a follow up investment in Microgen, one of its THRIVE III cohort companies.

The cohort’s technology categories range from big data & analytics (The Bee Corp, FarmX, Intelliconn, Wellntel, Livestock Water Recycling), to robotics (Tensorfield Technologies), next gen farms (Alesca Life Technologies), and biotechnology (Olombria, ProteoSense), and address key agriculture and food challenges such as food safety/security, labor shortages and resource constraint/environmental concerns.

The nine startups will participate in the SVG Ventures-THRIVE Accelerator Program, a four month program which kicked off in February and culminates at the Forbes-THRIVE Demo Day during the Forbes AgTech Summit on June 26 in Salinas, California. Over the course of the intensive accelerator program, companies will be provided live and virtual coaching covering topics such as go-to-market strategy, supply chain, field deployment, fundraising and global expansion. The accelerator program  emphasizes critical industry relationships and market traction by providing top tier agriculture, business and technology mentorship and connecting startups with THRIVE’s corporate innovation partners.

“Each year, we are truly impressed with the caliber of our startup teams and the quality of their technology solutions and this year is no exception,” said John Hartnett, founder and CEO of SVG Ventures-THRIVE. “We look forward to helping our THRIVE V startups succeed and scale their solutions for real impact in the food and agriculture industries over the course of the next few months.”

Register now for the Forbes-THRIVE Demo Day.

 

Introducing the THRIVE V Cohort- 2019

 

Creates next-gen urban farming solutions (i.e. in shipping containers) using advanced software technology.

Leadership: Tsuyoshi Stuart Oda, CEO

Location: China

Alesca Life is an agricultural technology company that builds weatherproof, cloud-connected farms to enable local food production by anyone anywhere. The startup was founded in August 2013, and over the past 5 years has developed hardware, IoT and IT products to modernize the agricultural industry and dramatically improve productivity, consistency, and efficiency.

 

Predictive data analytics and infrared technology for beehives to monitor hive-health.

Location: Bloomington, IN

Leadership: Ellie Symes, CEO

The Bee Corp’s product, Verifli applies data analytics to beehives to help growers ensure effective pollination through infrared inspection technology. The Bee Corp increases yield for farmers by monitoring the number, health and distribution of pollinating bees. Since launching the product February 2019, The Bee Corp has inspected over 6,700 beehives.

 

 

Precise irrigation optimization from a comprehensive sensor package.

Leadership: Tushar Dave, CEO

Location: Berkeley, CA

FarmX uniquely provides farmers with a complete monitoring and analysis solution that improves productivity immediately. FarmX scales quickly and appeals to all types of farmers with its analytics-service model. FarmX differentiates in its full-spectrum analytics offering which combine PCA, irrigation management, crop advisory services and adverse conditions monitoring into one simple solution.

 

Leading edge solutions for grain quality and quantity data acquisition, management, connectivity & remote monitoring.

Leadership: Ken Jackson, CEO

Location: Saskatoon, SK, Canada

Intelliconn manufactures and sells leading edge solutions for grain quality and quantity data acquisition and management as well as farm connectivity and remote monitoring and control solutions.

 

Creating value for  food producers by reducing the expense and impact of waste liquids.

Leadership: Karen Schuett, CEO

Location: Calgary, Alberta Canada

The LWR System is the only proven commercialized technology that reduces the overall volume of manure, concentrates nutrients into a valuable solid fertilizer, a crop additive liquid fertilizer, and delivers a renewable, high-quality water source.

 

Insect pollination solution that curates fly behavior to increase pollination and ensure greater crop yields.

Leadership: Tashia Tucker, CEO

Location: London, UK

Olombria uses specific species of flies to supplement bees as primary pollinators. Flies already do about 30% of the world’s pollination, but the Olombria technology substantially increases their effectiveness. They use advanced, natural chemical signaling and mapping technologies to choreograph their behavior, placing them just where the crops need them to be.

 

Solid-state biosensor technology for food safety testing.

Leadership: Mark Brynes, CEO

Location: Columbus, OH

ProteoSense LLC is commercializing RapidScan™, a solid-state biosensor technology for food stafety testing. ProteoSense’s high-sensitivity field portable system detects foodborne pathogens without incubation, reducing total test time from days to minutes – a 10x improvement over existing tests. Partnering with Taylor Farms, a leading producer of fresh-cut vegetables, ProteoSense is developing tests for Salmonella, Campylobacter, E. coli, and Listeria – the primary foodborne pathogens – that can be administered on-site by non-technical personnel.

 

 

Collaborative robots that perform non-invasive, no-herbicide weeding using thermal micro-dosing techniques.

Leadership: Xiong Chang, CEO

Location: San Jose / Salinas Valley

Tensorfield Agriculture is building the next generation of agricultural machines, initially to address three primary concerns of growers worldwide: the cost and availability of labor, the threat of herbicide resistance and the anticipated legislative burdens around using existing herbicides. The science is clear: the only way to mitigate the threat of herbicide resistance is to reduce or end our reliance on them, with the only viable alternative being the development and commercialization of new strategies for weed control. They leverage our deep manufacturing ties in Shenzhen, China to iterate fast and produce robots that can scale to multiple geographies and crop types: robots that they believe are the future of maintaining our ongoing supply of safe, sustainable fresh food.

 

  

Wellntel’s groundwater monitoring technology and insight  make groundwater visible and manageable.

Leadership: Marian Singer, CEO

Location: Morro Bay, CA and Milwaukee, WI

Wellntel is a groundwater-level monitoring technology and information system company. They sell sensor equipment, field services and cloud-based data services to turn irrigation wells into real-time groundwater supply monitoring points. With Wellntel, farmers and growers get the groundwater supply and seasonal trend data they need to inform operational plans, measure progress and sustainably manage their resource.

 

 

About SVG Ventures-THRIVE

SVG-THRIVE is the leading agri-food innovation ecosystem, comprised of top agriculture, food & technology corporations, universities and investors. With a community of over 1,500 startups from 67 countries, the THRIVE platform invests, accelerates and creates unparalleled access for entrepreneurs to scale globally. SVG Ventures-THRIVE is based in Silicon Valley, California.

www.svgpartners.com www.thriveagtech.com

 

 

 

THRIVE Companies Showcase at Forbes AgTech Summit Indianapolis

THRIVE accelerator companies were at the forefront of the Forbes AgTech Summit in Indianapolis last week.

Four agtech startups attended the innovation showcase included Arable, Aker Technologies, Farm Dog and 3Bar Biologics. THRIVE News caught up with the companies and learned of their recent milestones.

AKER

Aker, a member of THRIVE IV’s cohort, has much to celebrate said CEO and co-founder Orlando Saez. In September the company announced new crop and aerial imagery trials with Bayer’s crop science division, which is a leader in seed, crop protection and non-ag pest control. The trials are tracking results from Delaro, Bayer’s new corn and soybean fungicide.

In a news release, said Ray Lello, fungicides product manager at Bayer, spoke of how critical trials are to the product.

“Trials in 2017 found that Delaro provided a substantial yield increase over the untreated check in corn and soybeans. However, we also consistently heard from trial participants that they observed improved plant health from Delaro,” said Lello. “That’s why we are thrilled to collaborate with Aker to track qualitative metrics like plant health in addition to the known quantitative yield results of Delaro over the untreated check in corn and soybeans. Understanding how these benefits help contribute to an overall return on investment is beneficial for growers as they look to get the most out of their corn hybrids and soybean varieties.”

Saez credits his mentor Walt Duflock, managing partner of SVG Partners, for working closely with the company and getting them to the next level.

Arable
Arable, a member of THRIVE’s IV cohort, has been celebrating a productive year.

To start with the company, which produces a weather and plant measurement device, welcomed new CEO Jeff Keiser in July.

Arable also expanded headquarters from Princeton, NJ to Oakland, Calif., and hired another seven employees including engineers.

“We had a fantastic 2018 year – we really scaled up our sales team and solidified customer support. We developed some really amazing partnerships, we brought in new CEO in early July, and now about to hire new engineers,” said Jess Bollinger, vice president of strategic partnerships.

In 2018, Bollinger said, the focus has been on refining the device including improving yield forecast and developing into disease analytics and increasing alerts and notifications on crops

Since Arable’s product launched in June 2017, some 1,000 devices have been deployed in 22 countries globally examining some 26 different crops. It works with 150 customers including Francis Ford Coppola Winery, Ferro, Driscoll’s and The Nature Conservancy. To date, Arable has raised $13.2 million including from grants.

Bollinger credits THRIVE with connecting the company with some of its biggest clients especially with farmers and vintners in the Salinas Valley where agriculture is a $9 billion industry.

“THRIVE has helped build a really important network for us in the Salinas Valley where we have many key customers in that area who have been willing to provide strong feedback that has shaped much of our product development,” said Bollinger.

At Forbes AgTech Summit in Indianapolis, Arable was also one of nine companies chosen as part of Demo Day. During Demo Day and the Summit said they received stellar feedback for the product and ultimately more “brand visibility.”

Farm Dog 

Farm Dog’s CEO and founder Liron Brish said he has had a whirlwind summer.

Farm Dog, a member of the THRIVE IV accelerator that provides pest and disease management scouting platform, is focused on a new round of fundraising (to date the company has raised $2 million).

Brish, born in Israel and based in Tel Aviv, is also amid a transcontinental move and Los Angeles bound to be closer to the agriculture industry. A former consultant in farm harvest with McKinsey & Co., Brish said the company was awarded a number of important initiatives since joining THRIVE.

There’s the partnership with John Deere one of the largest farm equipment manufacturers in the world where Farm Dog’s software connects with Deere equipment to provide data analytics. There’s the $900,000 grant from the BIRD Foundation (The Israel-United States Binational Industrial Research and Development Foundation) in Israel that is fueling the company’s research and development. Farm Dog is also working with the USDA, University of Georgia and University of Florida, on building a regional pest disease management program. Brish said Farm Dog is providing the algorithm for the program.

Farm Dog, now in a million and a half acres and has conducted more than 25,000 field visits, also seeks to build out the AI part of the platform next.

Brish said THRIVE helped the company gain even more credibility in the agtech space.

“THRIVE did good job creating a network among startups,” said Brish noting the “connections that THRIVE made to the industry” when it comes to startups. “It’s hard enough being a startup, it’s even harder being an agtech startup,” he said, noting the sector is still fairly new when it comes to investment and acceptance from growers.

3Bar Biologics

Bruce Caldwell the CEO and founder of 3Bar Biologics cited a number of the company’s laurels since it joined the THRIVE Accelerator Program in 2017.

A spin-out from Ohio State University, the company provides natural microorganisms to boost healthier crops with higher yields. 3Bar has been in hiring mode tripling the size of its team to seven staffers including on the sales and marketing front. The company also received a greenlight for its first patent and has completed a seed round of $2 million. Over the summer 3Bar conducted a trial with Land O’Lakes, the connection made through the THRIVE program.

Caldwell said the connections with corporations has been golden for 3Bar.

“There are now a lot of companies in the THRIVE network that connect with other CEOs of young startups, and some of the larger relationships have been very impactful,” he said.

The sky is the limit for the company, he said. 3Bar plans to double sales and staffing annually and expand its reach when it comes to crops and geographies.