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AG DATA MANAGEMENT SOLUTIONS DEVELOPER LEAF RAISES $13M SERIES B TO BRING AI TO AGRIBUSINESS
Source: Leaf news release

SAN FRANCISCO -- American farmers are heading into another year of a generational squeeze. Fertilizer prices are up 25%+ since the Iran war disrupted the Strait of Hormuz, crop prices are still depressed, and the USDA is forecasting the smallest wheat crop since 1919. Now more than ever, efficiency matters on the farm, and Leaf powers the technology platforms helping farmers emerge stronger and more profitable than ever before.

Today, Leaf Agriculture announces a $13M Series B co-led by Leaps by Bayer and a group of prominent industry strategics. This financing solidifies Leaf's role as the premier provider of agricultural data management solutions. By providing access to cleaned and structured information, Leaf enables its partners to develop advanced AI tools for the industry.

Most acres are now digitized, and data drives more profitable operations for farmers, retailers and dealers, crop insurance companies, seed & chemical companies, and more.

But as adoption of digital technology rapidly ramps up in agriculture, so has the complexity of disconnected systems and data. One key limitation to the growth of these new tools is that the devices collecting the data all operate in their own incompatible siloed ecosystems storing information like farm boundaries, product names, and agronomic practices in different databases, proprietary file formats, and calibrations. This lack of alignment limits companies and farmers from using their data for decisions across pre-planning, planting, growing, harvesting and selling their crops.

Leaf occupies the same infrastructure layer in agriculture that Stripe does in payments or Plaid in banking -- invisible to end users but mission-critical for the companies building on top of farm data.

Since 2021, Leaf has worked with leaders in agriculture to help farmers benefit from the data collected in their fields and processes data from over 20% of the global acres in the world annually. The farmer might not know that Leaf exists, but the impact of its platform benefits the farmer in a number of ways, for instance:

Leaf's crop insurance partners enable farmers to get claim payouts in days instead of months allowing them to better prepare for the next season

Leaf's agriculture retail partners are able to give farmers statistically significant field-specific seed and chemical outcome models helping them advocate and bring the best products to farmers

Leaf's compliance and sustainability partners can give farmers new revenue opportunities and save farmers hundreds of hours each year previously spent manually entering data

In today's extremely challenging farm economy, Leaf's services are in demand more than ever by major ag retailers, input companies, crop insurers, food processors, and commodity traders as they push to optimize their operations and embrace the power of AI. As the world's leading agricultural data company and with the support of industry leaders, Leaf is in the rare position to catapult the agricultural sector into a new era of AI-enabled efficiency that will benefit farmers, agriculture companies, and consumers.

"Digital tools are transforming how farmers use our seeds and crop protection products, with platforms like FieldView leading the way," said Dr. Jeremy Williams, Head of Digital Farming and Commercial Ecosystems at Bayer Crop Science. "Leaf allows more farmers to harness their FieldView data for crop insurance, sustainability and agronomic decision support through their connected partner network. Leaf's capabilities align with our focus on ecosystem connectivity, and our investment in Leaf via Leaps by Bayer is a concrete step in our commitment to deliver better returns and a simpler digital experience for farmers."

"From day one, Leaf has been about pushing Agriculture into the future. Better data has always led to better decisions, and now AI is magnifying the advantage for companies who use Leaf to manage, clean, and organize their data. Having strategic investors like Leaps by Bayer alongside us propels us forward and allows us to help more companies and farmers realize the power of their data."

About Leaf Agriculture

Founded in 2021, Leaf provides food and agricultural companies tools to connect and analyze their farm data including Machine, Soil, Weather, Imagery, and Farm Management data. Companies collectively managing billions of acres choose Leaf to manage their data infrastructure so they can focus on servicing their customers, bringing new products to market, controlling their cloud spend, and building the future of the food & agriculture business. For more information about Leaf, please visit www.withleaf.io.

About Leaps by Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses before special items amounted to 4.9 billion euros. For more information, go to www.bayer.com.

Leaps by Bayer, a unit of Bayer AG, leads impact investments into solutions to some of today's biggest challenges in health and agriculture. The investment portfolio includes more than 50 companies. They are all working on potentially breakthrough technologies to overcome some specific challenges such as providing sustainable organ & tissue replacement, reducing the environmental impact of agriculture, preventing, or curing cancer, and others. For more information, go to leaps.bayer.com.


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