WEST LAFAYETTE, Ind. – Insignum AgTech and Verility Inc., two companies founded by Purdue University alumni, each received $100,000 from the Purdue Ag-Celerator, an agricultural innovation fund.
Insignum AgTech creates plants that warn growers of infection at an early stage so crops can be protected. Founder and CEO Kyle Mohler said plants turn purple before a pathogen can be identified, providing growers with information to fight the disease.
“Ag-Celerator’s investment is a wonderful validation of our progress over the past few years and confidence in our trajectory,” Mohler said. “We at Insignum are excited to have Purdue Foundry join our seed round, which will propel our product development in corn and allow us to begin developing technology for other crops.
Verility Inc. is a global animal health platform providing fertility testing products. Co-founder and CEO Liane Hart said the products enable breeders and livestock producers to accelerate reproductive performance through accurate, simple and cost-effective analysis by predicting the ovulation phase and assessing sperm quality at point of service.
“Ag-Celerator’s $100,000 will allow us to finalize our ovulation proof-of-concept studies planned throughout the first half of 2022,” Hart said. “It’s an honor to be selected for this award, not only as CEO of Verility, but also as a Purdue alumnus. We appreciate the recognition by the esteemed jury of the significant and successful results we have achieved throughout our startup journey. This opportunity definitely allows us to move forward faster, creating more value for our business.”
Ag-Celerator, established in 2015, is a $2 million innovation fund designed to provide essential seed-stage support to Purdue innovators who bring Purdue’s patented intellectual property or “know-how” technologies to market. from Purdue.
The fund is managed by the Purdue Foundry, with assistance from the Purdue College of Agriculture, the Purdue Research Foundation Office of Technology and Commercialization, and the agricultural industry.
“The College of Agriculture is dedicated to creating a culture of innovation and entrepreneurship among students, faculty, staff and alumni,” said Bernie Engel, senior associate dean for research and Higher Education. “Applicating to Ag-Celerator provides a tremendous opportunity as well as inspiration for these groups, and the awarding of these generous grants brings award winners that much closer to achieving the impact envisioned.”
Riley Gibb, director of business development at Purdue Foundry, said, “There are many high-quality entrepreneurs bringing Purdue-related startups to market. These companies, including recipients of Ag-Celerator investments, are already making an impact in plant and animal science.”
In August, Ag-Celerator eligibility was opened to startups in all fields of agriculture. Previous recipients of Ag-Celerator investments include AkanoCure Pharmaceuticals Inc., Heliponix, JUA Technologies International LLC, Karyosoft LLC, Krishi LLC, LeafSpec AgTech, Ongenia LLC, Phicrobe LLC, Progeny Drone Inc., Rogo Ag LLC, VinSense LLC and ZeaVaxx.
About the Purdue Foundry
Writer: Steve Martin, [email protected]
Sources: Bernie Engel, [email protected]
Riley Gibb, [email protected]
Liane Hart, [email protected]
Kyle Mohler, [email protected]