Source: Ag Startup Engine
AMES, Iowa – Ag Startup Engine, in the Iowa State University (ISU) Research Park, announced that their first Iowa-based investment, Smart Ag, has been acquired by Raven Industries (NASDAQ: RAVN). Smart Ag’s driverless tractor technology empowers farmers to upgrade existing equipment and complete operations faster and with less labor than ever before.
“In 2015, Smart Ag was just an idea,” commented Colin Hurd, Founder and CEO of Smart Ag. “Early investors, supporters and mentors like Ag Startup Engine were so important to getting from idea to a scalable business. There are a lot of milestones along the way, but Smart Ag’s partnership with Raven positions us to move our technology to the market place in a more significant way.”
Ag Startup Engine was created by 10 original founding members to simplify and accelerate the process from idea to commercialization for high-performing entrepreneurs and their companies in agricultural technology. Along the way, Ag Startup Engine has invested in 11 companies to-date, each of whom have continued make Ames and the ISU Research Park the place to be in agricultural technology.