Monsanto Co. and Microsoft Corp. have formed a partnership to invest in agricultural technology startups in Brazil.
Monsanto will join a Brazilian investment fund with up to $92 million, managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said Monday.
Selected ideas will receive initial funding of up to $459,000 for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity.
Read more: St. Louis Post-Dispatch