Dupont and Bayer AG have teamed up to invest in a new fund that will back agricultural technology startups, becoming the latest companies to pile into the multibillion-dollar industry as farm profits shrink. The two chemical and seed companies along with venture capital firm Finistere Ventures and two others have launched a $15 million accelerator fund, called Radicle, that will back early-stage agricultural-tech companies. Of the $15 million, $6 million has been initially committed but the fund did not identify which companies would receive the monies. While small in size, it marks the second time DuPont's investment arm has taken a stake in the ag-tech arena since launching in 2003, according to fund officials.
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Reuters
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