Monsanto Growth Ventures, the venture capital arm of Monsanto Co., has led a Series A investment of $6.5 million in a Canadian startup called FarmLead, which has developed an online grain marketplace.
The money will be used to support FarmLand’s expansion into the U.S. market and open a new U.S. headquarters in Chicago.
Other investors in the deal include Avrio Ventures, the MaRS Innovation Accelerator Fund and Serra Ventures.
Monsanto Growth Ventures launched in 2011, but was quiet on its investments and portfolio until early last year, when the company revealed it had invested millions of dollars in more than a dozen startups.
FarmLead is the first disclosed investment for Monsanto Growth Ventures this year.
Read more: St. Louis Business Journal