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In addition to a new CEO, Indigo Ag also recently raised $270 million from Flagship Pioneering, and added new investors, including the State of Michigan Retirement System and Lingotto Investment Management.

Indigo Ag reached out to big agriculture for its new CEO. Indigo is a marketplace for buyers and sellers of sustainable agricultural materials.

It connects growers to buyers and assists with the logistics of shipping their crops. The company named Dean Banks to Flagship Pioneering as CEO-Partner and CEO of Indigo Ag.

Flagship Pioneering is an investment firm for biotechnology companies.

Formerly, Banks worked as the president and CEO of Tyson Foods. Before that, he worked at Alphabet, and as a managing partner of SEED Ventures, investing in and developing early-stage health care technologies. He has also served as a consultant to Cleveland Clinic Innovations, senior vice president of business development and strategic marketing at OrthoHelix, co‐founder and CEO of Connective Orthopedics, and vice president at Highland Capital Partners.

Banks has been an Indigo Ag board member since 2022. He replaces Ron Hovsepian as CEO.


“The company is uniquely positioned as a trusted, independent partner impacting millions of acres today across the agricultural value chain,” Banks says. “I look forward to collaborating with the team to take the company to the next level as we scale its growth and impact.”

Other Indigo Ag updates

In addition to a new CEO, Indigo Ag also recently raised $270 million from Flagship Pioneering. The company added new investors, too. They include the State of Michigan Retirement System and Lingotto Investment Management, a $4.5 billion independent and entrepreneurial investment management company owned by Exor N.V., one of Europe’s largest diversified holding companies.

“This latest funding round is a testament to the power of Indigo’s platform and positions the company for growth across all aspects of the business, from biologicals to digital to carbon,” says Noubar Afeyan, founder and CEO of Flagship Pioneering and co-founder of Indigo Ag.

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