Indiana University investment arm pledges $250K to alumni-led agtech startup
The University Philanthropic Venture Fund, managed by the institution’s IU Ventures, is investing $250,000 in the Bee Corp., « an Indiana agtech startup developing solutions for growers and beekeepers who rely on commercial pollination, » according to an IU press release issued today. « The company uses infrared cameras that attach to a smartphone to provide a noninvasive look at the health of the hive. »
The funds were promised but not transacted before Gov. Eric Holcomb issued a statewide stay-at-home order, according to information in the release: « Despite mounting economic uncertainty, IU Ventures is proceeding with this and three other approved investment transactions, demonstrating the group’s commitment to supporting Hoosier entrepreneurs in this time of heightened need. »
To read the entire press release, click here.