agriculture

Why We Invested: Olombria

Why We Invested: Olombria

The Challenge

Food production can be impacted by several factors, including climate change, and the availability of key resources like water, energy, labor and arable land. However, one key catalyst to food production that is often overlooked is pollination. Without the assistance of pollinators, most plants cannot produce fruits and seeds. According to the FAO, we know that, of all crops across the globe producing fruits or seeds for human consumption, roughly 75% depend, at least in part, on pollinators such as honey bees. In addition, pollinators affect 35% of global arable land, supporting the production of nearly 90 of the world’s leading food crops. But wild pollinators are under threat —according to the USDA, bee populations have been steadily declining for years now due to Varroa mite infestations, habitat loss, pesticides, weather and disease. In the USA, there has been an 18% reduction in honeybee hives since 1990. Hive prices have skyrocketed, with growers spending $400 million to pollinate almond trees each year in California alone, and an estimated nearly $3 billion spent across all crops in the USA each year. If this alarming trend continues, we are facing a loss or severe yield decrease of several critical fruits and crops we currently take for granted. Can you imagine a world where we have limited access to coffee, cocoa, or strawberries? The horde of dessert aficionados and coffee addicts would revolt! So the key here is either to help re-boost the honey bee population or to find an alternative pollination source.

270+ COMPANIES FROM 55 COUNTRIES APPLY TO THRIVE ACCELERATOR 2018-2019 COHORT

Applications to THRIVE’s Seed Accelerator closed October 31 and we are delighted to announce that we received nearly 300 applications from 55 countries. Going into its fifth year, THRIVE continues to expand its presence in new regions around the world with the help of our corporate partners including Coca Cola, Trimble, Heidenhain, Taylor Farms, EY, Driscoll’s Berries, Land O’Lakes, Verizon, Wells Fargo and Corteva Agriscience and global affiliates.

Technologies from applicant companies covered an equal distribution between next gen farms, big data analytics, food tech and supply chain, with robotics and automation, biotechnology and e-commerce solutions representing a smaller but significant share of this year’s cohort pool. The problem areas addressed by these companies include crop protection and nutrition, farm management, labor and food security.

 

In the coming weeks, all applications will be reviewed THRIVE’s SVG team and corporate partners, with ten companies selected to participate in the accelerator program kicking off during THRIVE’s Seed Camp in spring 2019. The ten selected companies will be announced in February 2019.

 

Other THRIVE News:

Registration open for THRIVE Innovation Summit March 27: 
Hosted for the third year on March 27 at Santa Clara University, the THRIVE Innovation Summit will bring together 250 agribusiness leaders, investors, growers, and agtech and foodtech startups from around the world to discuss the challenges and solutions for the agriculture industry. We are pleased to welcome Beth Ford, CEO, Land O’Lakes as our keynote speaker. Agenda topics include Blockchain – ‘Solving Agricultural Supply Chain Problems One “Byte” at a Time’, ‘Mega City Farming – How Indoor and Vertical Farming Can Help Feed the World’, ‘The Potential of Biotechnology – Addressing Critical Food Security Issues’, and ‘Automated Agriculture – Robots From Planting to Harvest’. Register now.

Nominations for THRIVE’s 2019 TOP 50 are open:

THRIVE is looking for agtech startups disrupting the agriculture and food sectors through innovation and technology to be a selected as part of THRIVE’s Top 50. Companies are required to have a product in market and be at least series A+ in order to qualify for Top 50. Nominate now.