TechAccel hops in $3.2M round for Lincoln-based ag tech firm
March 9, 2017 | Meghan LeVota
Kansas City-based TechAccel is joining an investment round in a Nebraska agriculture tech firm that aims to improve crop yields.
The area venture firm is among a group of investors in Lincoln-based Epicrop Technologies Inc., which raised a total of $3.2 million in its Series A round, which was led by North Forty Ventures. TechAccel — which joined Nelnet, Speedway Properties and Allen & Company as investors — declined to disclose the value of their investment.
TechAccel said in a release that the firm is committed to support scientific advancements such as those produced by Epicrop, which developed an “epigenetic” technology. Epigenetics is the study of changes in organisms caused by modification of gene expression, rather than altering the genetic code.
“We’re excited to have TechAccel in our corner, both as an investor and a research partner advancing our technology,” Epicrop CEO Dr. Michael Fromm said in a release. “Their expertise and support will help Epicrop accelerate its programs demonstrating the enormous potential of epigenetics to increase yields and stress tolerance in a variety of crops.”
Combining epigenetics with agriculture, Epicrop co-founder Dr. Sally Mackenzie created a technology that uses conventional plant breeding techniques with molecular markers, enhancing yield in select plants. Greenhouse trials show that Mackenzie’s technology increased yields and stress tolerance for soybeans, tomatoes and sorghum.
“The pressure is on all of us in agriculture to deliver higher performing plants in the face of challenges like climate change and increasing global demand,” Dr. Mackenzie said in a release. “This technology is a critical step forward in addressing those problems head on.”
In December, TechAccel announced a $250,000 partnership with Donald Danforth Plant Science Center, a St. Louis-based nonprofit research institute. Founded in 2014, TechAccel specializes in ag and animal health technology. The firm invests in, sources and acquires early-stage innovations through collaborations with various institutions.
2017 Startups to Watch
stats here
Related Posts on Startland News
New scholarship opportunities for urban entrepreneurs available in August
The Urban Business Growth Initiative announced it released new scholarship opportunities for urban entrepreneurs in Kansas City beginning in August. Launched in 2013, the initiative offers a variety of programs that fuel urban business growth — whether that be counseling, classes or access to resources. The UBGI helped 92 scholarship award-winners generate $29.5 million in…
In an oversubscribed round, PopBookings raises $1M
Quickly expanding around the nation, the event staffing tech firm PopBookings recently raised a significant round that will push the technology into international markets. Led by CEO Erika Klotz and COO Scott Hanson, the Kansas City-based tech firm recently raised more than $1 million in an oversubscribed round that includes the Missouri Technology Corporation, iSelect…
UMKC nonprofit center lands $396K Kauffman Foundation grant
The Ewing Marion Kauffman Foundation announced Wednesday it will renew its support in University of Missouri-Kansas City organization that helps area nonprofits thrive. The foundation has gifted $396,800 to the UMKC-based Midwest Center for Nonprofit Leadership, whose mission aims to expand the capacity of nonprofit organizations across the greater metropolitan region. The grant will be…
Sprint Accelerator alum and AI firm Centiment to begin KU Med partnership
New York-based artificial intelligence firm Centiment recently announced that the firm has established a research partnership with the University of Kansas School of Medicine. The neuroscience study will focus on two areas of the brain — the limbic system and the prefrontal cortex — and will scan the brains of people while they consume content, looking for…