Land O’Lakes, Inc. today unveiled its participation with local ag retailers in AgRogue Growth Partners, a new initiative aimed at using the cooperative model to fast-track breakthrough technologies for agriculture.
As the Land O’Lakes cooperative system has a long history of driving adoption of the latest ag technologies, Land O’Lakes and a coalition of its retailer-owners will invest up to $7 million in each of 10 to 15 companies focused on improving crop inputs, ag data, supply chain processes, business models and more.
“We believe the key to jumpstarting the adoption of modern ag technologies lives in the partnership and trust between retailers and growers. This platform represents a focused strategy that builds on the strength of Land O’Lakes’ co-op model and our retail owners to assist Radicle Growth in finding, funding and scaling new innovation to help ensure our system remains at the leading edge of ag tech, and U.S. agriculture remains competitive on a global stage,” said Jason Trusley, senior vice president and chief strategy officer at Land O’Lakes, Inc.
The new coalition plans to invest in and scale innovative technologies, business models and systems that drive on-farm impact, pool resources to access proprietary ag innovations beyond traditional channels, and accelerate early adoption by leveraging the trusted relationships between participating retailers and farmers.
“Right now, we’re seeing a wave of necessary innovation stall before it reaches the farm gate — often lacking the local trust and infrastructure needed to succeed,” said Brett Bruggeman, chief operating officer and executive vice president of ag business at Land O’Lakes, Inc. “As one of the largest farmer-and retailer-owned cooperatives in the U.S., we know our retail-owners are uniquely positioned to bridge that gap and get proven innovation into farmers’ hands faster.”
Retail partners include Keystone Cooperative (Indiana), Central Valley Ag (Nebraska), Farmers Cooperative – Dorchester (Nebraska), Farmward Cooperative (Minnesota), Alabama Farmers Cooperative (Alabama), and GreenPoint Ag (Alabama). The AgRogue Growth Partners will be managed by Radicle Growth, a leading ag tech investment firm, which will help identify and vet cutting-edge startups from around the world.