MSU agriculture data analytics spinout Cibo Technologies was co-founded by Bruno Basso to commercialise a forecasting approach centred on interactions between different nodes in the farming process.
Cibo Technologies, a US-based agricultural forecasting technology spinout of Michigan State University (MSU), attracted $30.3m today in an equity round featuring undisclosed investors, according to a regulatory filing.
Founded in 2014, Cibo Technologies has created a farming simulation platform that enables the industry to forecast the best strategy in regard to factors such as crop yields, risk management and commodity fluctuations.
The software achieves greater accuracy by modelling interactions between different nodes in the agricultural process, for example forecasting how certain soil properties and genotype characteristics affect the relationship between fertiliser and a given plant.
Cibo’s co-founders include chief scientist Bruno Basso, a foundation professor in MSU’s department of earth and environmental sciences specialised in matters including agronomy and soil science, and CEO Ignacio Martinez, a partner at investment firm Flagship Pioneering, which incubated the spinout through its VentureLabs program.
In addition to Flagship Pioneering, Cibo Technologies’ earlier investors include Generation Investment and Founders Fund.
