![]() ![]() So, if a farmer decides to try a new biological yield enhancement product, for example, and purchases a policy on it from Crop Pro, the farmer can make a claim and recoup some of the investment if the product doesn’t work as the manufacturer forecasts. Crop Pro Insurance, which is based in Des Moine, Iowa, received approval from the USDA to sell crop insurance on June 30, making it the newest player in a very small club of only 16 approved providers.Įstablished insurance provider GuideOne Insurance also joined the round.Īs well as offering typical crop insurance coverage for weather, pests, flooding, and price fluctuations, Cro Pro, which claims to be the first VC-backed insurer to be approved to offer federally-backed policies, aims to promote agtech adoption through unique private, agtech insurance products. If you’re looking for disruptive agtech, this could be it and it’s not what you think.Ĭrop Pro Insurance has raised an $8 million Series A round led by ag-focused venture firms Finistere Ventures and S2G Ventures.
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