Monsanto’s Climate Corp. buys ag tech startup HydroBio

Climate Corp., a Monsanto subsidiary focused on the application of digital technology in agriculture, has acquired a Denver-based software company called HydroBio.

Financial details of the deal were not disclosed.

Monsanto said the acquisition will help Climate Corp., which Monsanto bought for nearly $1 billion in 2013, provide irrigation-focused data analytics capabilities to farmers.

Monsanto’s venture capital unit, Monsanto Growth Ventures, was an early investor in HydroBio, helping the startup raise $3 million in March 2015.

Using satellite imagery, soil data and highly localized weather data, HydroBio aims to outfit farmers with information to help improve water efficiency.

Climate Corp. looks to help farmers increase their productivity through the use of digital tools. The subsidiary is expected to start generating revenue by 2020.

Read more: St. Louis Post-Dispatch, St. Louis Business Journal

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