Growing up in West Lafayette, I have “fond” memories of my summer job de-tasseling corn. This entailed waking up at the crack of dawn, walking through corn fields getting soaked by dew and cut by the corn stalk leaves, pulling off the tassels, and finishing by 2 p.m. just as it was starting to get really hot—all for $300 a week. See how it’s done here.
Corn came back into my life when I met Kyle Mohler, founder and CEO of Insignum AgTech, several years ago. He shared how his biotech company was developing genes that could solve some of ag’s biggest crop protection problems. The genes allow plants to “talk” with farmers about what ails them, so farmers can effectively treat their crops and avoid losses. The idea of “talking plants” caught my attention. Kyle is now preparing to commercially launch Insignum’s first product after meeting impressive milestones. It’s a unique investment opportunity and invite him to pitch to VisionTech investors on March 19. Here’s my preview.
BP: How did you hear about VisionTech?
KM: If you’re developing a startup in Indiana, you know VisionTech. Insignum AgTech has been in its R&D phase since 2020. Now that we’re moving into commercialization, the time is right to actively engage with your group.
BP: What’s your experience in the agriculture industry?
KM: How far back would you like me to go? (Laughs) I grew up on a farm outside of Lebanon, Indiana, that raised corn, soybeans, cattle, and pigs. I was a member of 4-H and FFA, and as an FFA project in my teens, I rented a field from a neighbor, rented equipment from my dad and raised my first corn crop. I’m sure they both gave me a deal to help steer me to a career in agriculture. It worked! I went on to earn a BS in Plant Biology at Purdue and a PhD in Plant Biochemistry at the University of Edinburgh in Scotland. I followed up with post doc research stints at the University of Georgia and Purdue.
BP: What’s the back story on Insignum?
KM: I was doing research at Purdue for my post doc from 2015-2018 and looking at farmers’ crop protection strategies. About this time, Mohler Family Farms had just begun applying fungicides as a prophylactic. This of course was another input cost to already thin margins. I believed there was a better way to approach crop protection by engaging the plants themselves in the process. In a sense, having the plants “talk” to farmers when facing stresses like fungus, insect pests or lack of fertilizer.
Without getting too deep in the science, I devised a way to leverage naturally occurring color genes in plants that are activated to fight disease. In many varieties, these genes have been switched off to ensure the corn or grapes or cabbage is green. But we reactivate the genes to do something new, to communicate at the earliest stage of stress. For example, when corn is attacked by a fungus, purple spots appear on the leaves—kind of like real time sensors. With this information, farmers get both precision ag and decision ag. With Insignum, they can precisely treat when and where needed rather than arbitrarily treating an entire field. This has a positive impact on yields, input costs and the environment.
BP: Are there any negatives about using this type of genetically modified seeds?
KM: No. We are leveraging existing genes and natural processes in the plant. We are not making artificial modifications. That’s a win for agriculture, consumers and the environment.
BP: Is your gene technology limited to corn and fungus?
KM: Not at all. The Insignum system can be applied to all crop categories such as row crops, vegetables and high-value crops like fruits, nuts, grapes and hops. While we started with fungus, we are developing genes that also detect and signal insect damage and infertility/lack of adequate fertilizer at early stages so farmers can react and treat accordingly. Insignum is definitely a gene technology platform.
BP: What’s going to make farmers say, “I need this”?
KM: Agriculture is full of uncertainty—droughts, floods, hurricanes, global tariffs—and involves a series of complex decisions to deliver profitability on every acre. As operations become larger, every decision costs more for the farmer, the crop and the environment. Insignum gives farmers a powerful new tool that allows them to respond specifically and quickly to what their crop signals is threatening its health before typical symptoms appear. No more guesswork. This is a gamechanger.
BP: Who are your customers, the seed companies or the farmers?
KM: Farmers are our end users. However, our business model involves licensing our gene—and ultimately genes—to seed companies. They will cross breed our genes with their seeds to deliver new value-added seeds with enhanced crop protection. This helps their customers achieve better outcomes and builds brand loyalty.
BP: What are major milestones to date you’d like to share with VT investors?
KM: 2023 was a big year for us. The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service approved the use of our gene quickly and without regulatory hurdles because we use genes naturally occurring in plants. This cleared the way for us to sign an agreement with Beck’s Hybrids to test Insignum’s corn traits in Beck’s elite varieties. This relationship has been very positive and we’re now in year three of testing with Beck’s.
We recently signed an agreement with another top five seed company and will be testing with Keystone Cooperative, which supports farmers across Indiana, Michigan and Ohio.
BP: Do you have IP protection?
KM: Although our gene for fungus detection in corn is natural, it is novel. We have patented the platform to make plant sensors out of pieces of DNA that are naturally in the plant.
BP: How have you funded Insignum to date?
KM: We received non-dilutive funding and support from the Indiana Corn Growers Association last year. We’ve raised just over $2 million in dilutive funding from a farmer-led investment group in Iowa called Ag Ventures Alliance, Elevate Ventures, Purdue Ventures, and angel investors.
BP: What investment round is this and what are your intended use of funds?
KM: We are looking to raise a $2.5 million Seed Round. We will have a first in March. I’ll make sure there’s room for VisionTech.
This round will be used to propel our commercialization efforts of our first gene and expanding our gene platform to include a new product and new plant species, likely canola. Corn is king in the Midwest, and canola is the premium crop for Canadian farmers. We’re currently recruiting a business development person as well as an agronomist for field trials and additional data scientists.
BP: Give me three reasons VisionTech investors should invest in Insignum AgTech.
KM: First, it’s the right time to invest in the agriculture industry. The seed industry has consolidated and have cut R&D budgets. They are looking externally for innovation. Second, genes in agriculture are like pharmaceuticals in health care. A single gene can be worth a billion dollars. And we are creating a suite of genes. Finally, we are early in our development, so our valuation is low. It’s a good time to get in with Insignum AgTech.
VisionTech’s Virtual Pitch Event on Wednesday, March 19 begins promptly at 12 noon ET. Plan to join me and Insignum AgTech Founder and CEO Kyle Mohler and fellow VisionTech investors. Please register here.
