Five Takeaways From The Minnesota Agtech Cheat Sheet v2

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The Minnesota Agtech Cheat Sheet v2 was published last week and here are five takeaways from the research:

1) The pure-play Minnesota Agtech market leaders in terms of staff size (not counting Land O’ Lakes various divisions) are:

  1. Conservis – 65 people ($63m funding)
  2. Sentera – 40 people ($30m funding)
  3. Local Crate – 27 people ($1.4m funding)

2) It’s predominantly a post-revenue cluster; only 2 firms are pre-revenue, notably Traive (which was pulled here via Techstars Farm to Fork Accelerator) & Rowbot Systems, which was formed in 2012 though has yet to sell any nitrogen dispensing field robots.

 

3) It’s a very geographically disbursed group; many companies are, for farming reasons, based outside the MSP metro, including: Willmar, North Oaks, Winnebago, St. Michael.

4) Piggybacking off #3, we see that this space is also quite hardware heavy:

5) There’s over $100m of combined investment planted throughout Minnesota’s Agtech Cluster.

Bonus: By comparing v1 published in May 2018 to this v2, we can spot change; while most MN Agtech companies are about the same, Sentera is the biggest standout, growing staff from 30-40, by 33% during the period. Closing on $14m in September surely boosted that.

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