In Tennessee, Innova Memphis, an early-stage venture capital firm, announced the close of its latest fund, Innova Ag Innovation Fund IV. As part of the U.S. Department of Agriculture’s Rural Business Investment Program, the fund has been certified and licensed to operate as a Rural Business Investment Company. The $31 million fund will focus on early-stage investments in novel, technology-based solutions to solve real-world problems faced by today’s farmers.
Located in the heart of the Delta region, Innova Memphis will work with various national farm organizations and other partners to identify, enable and accelerate companies with high growth potential in the rapidly expanding agriculture technology sector.
Areas of interest include robotics, new technologies pertaining to crop production, harvest, storage, supply chain and logistics, precision agriculture tools such as crop, water and chemicals management, innovations addressing food security, safety and nutrition challenges and novel animal health and welfare systems and practices.