Grinnell Mutual invests in ag startup

Iowa City, Iowa, based FarrPro, Inc., an agritech startup and member of the 2017 Iowa AgriTech Accelerator inaugural class, wrapped up its investment seed round and has successfully raised the necessary capital to support the ongoing development of FarrPro's flagship Haven product and the company's plans for near-term growth.

Iowa-based Grinnell Mutual, the largest primary reinsurer of farm mutual companies in North America, is the lead investor. 

We have an incredible group of investors participating in the round — individuals and organizations that have been, and will be, key to our success," said co-founder and CEO Amos Petersen. "We're humbled by the strong response to our offering, and are eager to start working with our investors and strategic partners to create transformative solutions for the pork industry and animal agriculture as a whole."

FarrPro focuses on creating innovative, energy-efficient solutions for livestock producers who want to improve the health, welfare, and quality of life of their animals. Its Haven product creates a microclimate for piglets that evenly distributes heat and light along the creep wall of a farrowing crate. The result is a safe, energy efficient environment for optimal piglet growth and improved sow comfort.

"We're thrilled to have the opportunity to lead the seed investment round for FarrPro. Many of our policyholders could benefit from the company's Haven product," said Kurt Eaves, Grinnell Mutual vice president of Underwriting, Sales, and Service. "Not only is this another strategic investment for our company, it also supports our commitment to innovation in the agricultural space and to serving and protecting our customers."

About the Iowa AgriTech Accelerator

The Iowa AgriTech Accelerator, was founded in 2016 and based in Des Moines, Iowa. It is a mentor-led program that allows startups to collaborate with agriculture industry leaders and present their solutions to refine product market fit, perform customer discovery within the industry, and build strategic partnerships. The accelerator is part of the Global Accelerator Network, an ecosystem of accelerators whose mission is to work with startups towards scalable and sustainable growth.