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
JE Dunn leads $5M round in a local, ‘skunkworks’ tech spinout
One of Kansas City’s top corporations has led a $5 million investment round in a local tech firm that helps manage the torrents of paperwork associated with building maintenance and management. Kansas City-based JE Dunn led the Series A round in Site 1001, a software company that spun out of the construction giant to digitize…
Growing tech startup Campus Eye wants to make schools safer
College campuses aren’t the safest place to be. Nearly one in four female college students in the U.S. have experienced sexual assault. In the same study, 11 percent of female college students said they’ve experienced rape. And since 2013, there has been more than 76 instances of gun violence on college campuses. Campus Eye founder…
Obama’s $80M reinvestment in smart city tech touches Kansas City
In a move that will provide the Kansas City area more resources to develop Internet of Things technology, President Obama’s administration announced Monday that it’s boosting support of U.S. smart city infrastructure. The White House issued a statement that it’s expanding its Smart Cities Initiative with more than $80 million in new investments. The move…
UK firm lured by Kansas City’s charm, opportunity
Born in South Africa and a resident of Great Britain for over a decade, Fred Hefer, CEO of Pomerol Partners, never would have guessed he’d be moving his family to Kansas City. “Really? This place in the middle of America?” Hefer said. “With the tornados and the story about Dorothy?” Hefer said his wife and…