Indigo
Boston-based agricultural technology company founded in 2013 that develops plant-microbiome biologicals and verified soil carbon credits, serving row-crop farmers, agribusiness distributors, and corporate sustainability buyers including Microsoft, Google, and major financial institutions.
- Company typePrivate
- Founded2014
- HeadquartersBoston, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Indigo does
Indigo Ag is a Boston-based agricultural technology company founded in 2013 by Flagship Pioneering, operating three core business lines: microbial biological products for crops (biotrinsic), verified agricultural soil carbon credits (Carbon by Indigo), and a sustainability traceability platform (Source by Indigo, now part of Terion). The company's underlying technology rests on a proprietary microbe library of approximately 1,800+ microbial strains, the CLIPS computational platform used to discover and develop microbe-based products, the SCX (Soil Carbon X) modeling and MRV system for carbon credit generation, and satellite remote sensing/computer vision capabilities inherited from the TellusLabs acquisition. The biologicals business applies microbial seed coatings and foliar treatments to improve crop yield, drought tolerance, and nutrient use efficiency.
The carbon business aggregates farm-level practice changes (cover cropping, reduced tillage, diversified rotations) across enrolled acres, applies ML-driven MRV to quantify soil carbon sequestration, and issues verified credits registered with ICVCM (Core Carbon Principles), Climate Action Reserve, and Verra. These credits are sold to corporate sustainability buyers to meet Scope 3 and net-zero commitments. Source by Indigo provided grain traceability linking on-farm practices to commodity buyers; this business was combined with CIBO Technologies into a new entity, Terion, in mid-2026.
Indigo's business model combines product sales to growers (biologicals), multi-year credit offtake contracts with corporate buyers (carbon), and emerging digital services revenue through Terion. Pricing for biologicals is per-acre and per-crop; carbon credits are priced per tCO2e with multi-year delivery commitments (e.g., the Microsoft contract delivers 2.85M credits over 12 years at $171M-$228M total). Customer segments include row-crop and specialty-crop growers, agribusiness distribution partners (40+ reported), and corporate buyers across technology (Microsoft, Google, Salesforce, Shopify), financial services (Barclays, JPMorgan, BCG), and apparel/consumer (The North Face, Ralph Lauren). Geographic footprint spans the US, with international expansion via the Grow Indigo joint venture with Mahyco in India.
Indigo firmographics
Firmographics- Name
- Indigo
- Legal name
- Indigo Ag, Inc.
- Website
- http://www.indigoag.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Boston-based agricultural technology company founded in 2013 that develops plant-microbiome biologicals and verified soil carbon credits, serving row-crop farmers, agribusiness distributors, and corporate sustainability buyers including Microsoft, Google, and major financial institutions.
- Ownership category
- akta.pro rank
Indigo industry classification
Industry- Product category
- Sustainable Agriculture Solutions
- NAICS
- Support Activities for Forestry (1153), Nitrogenous Fertilizer Manufacturing (325311)
- SIC
- Agricultural Services (700), Forestry (800)
- akta.pro primary industry
- Soil Carbon & Regenerative Agriculture Removal (Soil Organic Carbon Credits) (EUABAFAG)
- akta.pro secondary industries
- Soil & Biomass Carbon Measurement (Soil Sampling, Forest Inventory, Blue Carbon) (EUABACAH), Regenerative Agriculture (Soil Carbon, Cover Crops, Reduced/No-Till) (AFAGAMAA)
Keywords
Where Indigo is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Indigo business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Supply Chain
Revenue model
- Carbon credit sales: Registry-issued soil carbon credits sold to corporations and individuals; pricing outcome-based on verified tonnes of CO2e, with farmers receiving 75% of the weighted net price on a five-year payment schedule. Largest stream with 2M+ credits issued to date.
- Biological product sales (biotrinsic): Sale of microbe-based seed and foliar treatments to farmers through ag retail partners and direct channels across five major crops and four core stresses.
- CLIPS technology licensing: Licensing of the CLIPS seed treatment device and system to agribusiness partners (e.g., GROWMARK) for use with their own products or bundled with biotrinsic.
- Sustainability program services (corporate/enterprise): Multi-year managed services engagements with corporations and agribusinesses for emissions reductions/removals, supply chain footprinting, Scope 3 programs, and aligned with GHG Protocol and SBTi; delivered via turnkey platform.
- Water conservation programs: Water programs for water-intensive corporations (e.g., data center operators) that invest in regenerative agriculture to drive measurable water conservation, soil moisture storage, and groundwater replenishment.
- Low-carbon biofuels programs: Programs that help run low-carbon-intensity (CI) feedstock programs with farmers and generate revenue from clean fuel markets and 45Z/U.S. biofuels tax credit programs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Outcome Based/ Performance | Multi-year contract | Carbon by Indigo standard program for farmers |
| Other | Multi-year contract | Carbon credit purchase for individuals, SMBs, and enterprises |
| Other | Annual | biotrinsic biological products and CLIPS seed treatment system |
Go-to-market motion4 records
Distribution channels6 records
Marketing channels9 records
Indigo product offering
Product offeringCore offering
Indigo Ag operates an agricultural technology platform that combines microbe-based biological seed and foliar treatments (biotrinsic) with the largest registry-approved agricultural soil carbon credit program (Carbon by Indigo). Farmers adopt regenerative practices, generate verified soil carbon credits via Indigo's MRV engine, and receive 75% of credit revenue, while corporations and agribusinesses purchase high-integrity carbon credits, sustainability program services, and biological products to meet Scope 3 and ESG commitments.
Product overview
Indigo Ag operates as a platform-plus-modules architecture combining biological products with science-backed regenerative agriculture programs. At its core are two business units: Indigo Biologicals (the biotrinsic® microbial seed/foliar treatments portfolio with ~25 products across five major crops and four core stresses, applied via Indigo's CLIPS™ seed treatment device) and Indigo Carbon (the Carbon by Indigo soil carbon credit program, the largest registry-approved ag soil carbon program with 2M+ credits issued to date). Surrounding these is the Source by Indigo sustainability solutions platform offering end-to-end MRV-backed emissions reduction, removal, water conservation, and low-carbon biofuel programs for agribusinesses and corporations (now combined with CIBO Technologies into Terion to form an AI-enabled digital infrastructure layer for agriculture). Supporting modules include FieldFlex (flexible sustainability program), Indigo Marketplace (digital grain marketing), and the Soil Carbon Experiment (SCX) research program. Acquired technologies include TellusLabs (satellite imagery + AI) and Soil Metrics (soil carbon/GHG assessment). International operations include the Grow Indigo JV (with Mahyco in India), Indigo Europe (Germany, Ukraine, Hungary, Turkey, Romania, Bulgaria, Poland, Czechia, Slovakia), Indigo Brazil, Indigo Argentina, and Indigo Turkey distributors.
Differentiator
Problem solved
Functional benefit
Brands
- Carbon by Indigo: Registry-approved agricultural soil carbon credit program partnering with farmers, agribusinesses, and corporate credit buyers; the largest registry-approved ag soil carbon program in the market.
- biotrinsic by Indigo
- CLIPS
- Indigo Carbon
- Terion
- Grow Indigo
Products and services
- Carbon by Indigo
Quantifiable outcome
- 2M+ registry-issued agricultural soil carbon credits (largest program of its kind)
- +9 more outcomes
Companies that use Indigo
Customer profileNamed customers21 records
Segments5 records
Ideal customer profiles4 records
Indigo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability8 records
Feature6 records
Indigo partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered flagship, core and minor.
- Microsoftflagship12-year strategic agreement for the purchase of 2.85 million soil carbon removal credits valued at $171M-$228M, the largest soil carbon credit deal ever. Builds on prior transactions of 40,000 tonnes (2024) and 60,000 tonnes (2025). Supports Microsoft's carbon-negative-by-2030 goal and aligns with surging AI data center emissions.
- GoogleflagshipIndigo Ag received $1.5 million from Google for a regenerative agriculture program in Oklahoma that supports water-saving practices and watershed health in communities where Google operates.
- GROWMARKcoreBiological-and Sustainability-Based Strategic Partnership. Includes licensing of the CLIPS seed treatment system and access to Indigo's market-leading biotrinsic biological portfolio for GROWMARK's member-owners, validated through AgValidity and MiField trial programs and the Cooperative Ventures venture fund.
- Climate Action ReservecoreRegistry partner: issues Indigo's Carbon by Indigo credits and confirms their eligibility for sale under the Soil Enrichment Protocol. Climate Action Reserve developed the Soil Enrichment Protocol with input from Indigo's team and issues the market's first sustainable agriculture credits with the ICVCM CCP label.
- VerracoreRegistry partner supporting Carbon by Indigo's methodologies for soil carbon credit issuance, along with the Climate Action Reserve; enables global-scale credit verification.
- Soil MetricscoreAcquired by Indigo Agriculture to expand soil carbon science, improve soil carbon modeling, expand climate-smart agriculture solutions, and help farmers generate sustainable financial incentives. Soil Metrics specializes in soil carbon and greenhouse gas assessment technologies.
- TellusLabscoreAcquired by Indigo (December 2018). TellusLabs is a satellite imaging and AI company based in Somerville, MA, contributing to Indigo's living map of the world's food supply and yield-from-space analytics.
- CIBO TechnologiesflagshipCombined with Indigo Ag's Source business in June 2026 to form Terion, a new company focused on building trusted digital infrastructure for modern agriculture, headquartered in Boston with operations in the US Midwest and Brazil.
- MahycocoreJoint venture partner with Indigo Ag in Grow Indigo (GIPL), an India-focused agricultural carbon credit program launched in 2022 covering approximately 30,000 acres of smallholder rice farmers in Punjab and Haryana.
- BCI (Better Cotton Initiative)coreIndigo Ag provided the measurement and verification technology for BCI's pilot project achieving verified GHG reductions across 19,000+ acres of US cotton growers in Arkansas, Mississippi, and Missouri; farmers received $53/tonne.
- Corteva AgrisciencecoreAgribusiness partner offering Carbon by Indigo to its farmer network and adopting Indigo's methodology for sustainability programs.
- Firebolt AgminorCarbon partner using Indigo Ag's Carbon by Indigo program to manage risk through diversification across its farming and drone operations.
- BCG (Boston Consulting Group)coreStrategic partnership to develop promising technologies and scale high-quality carbon sequestration projects; both a credit buyer and thought-leadence co-development partner.
- Cool EffectminorOffers Indigo carbon offsets on the Cool Effect consumer-facing carbon credit platform, distributing Indigo's high-quality credits to individuals and businesses.
- Anheuser-BuschcoreSustainable rice program partnership; Indigo Ag's MRV and sustainability platform supports data-driven grain sourcing for Anheuser-Busch rice buyers.
- SalesforcecoreSalesforce has signed major carbon credit deals including through Rubicon Carbon and Indigo Carbon as part of its $100M First Movers Coalition pledge; carbon removal pre-purchase agreements.
- Paul Hawken (Author of Drawdown and Regeneration)minorEndorses Indigo Ag's regenerative agriculture approach as a key climate solution; cited on Indigo's soil carbon science page.
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
Indigo competitors and assessment
Company assessmentDirect peers
- Pivot Bio: Pivot Bio develops microbe-based nitrogen-fixing crop nutrition products for corn and other row crops, making it the closest direct competitor to Indigo's biotrinsic microbial seed and foliar treatment portfolio. Both target the same ag retail and grower channels with science-backed biological alternatives to conventional inputs.
- Nori: Nori operates a voluntary carbon market platform focused on agricultural soil carbon sequestration, directly competing with Carbon by Indigo for farmer enrollment and corporate credit buyers. Both companies pursue registry-issued credits backed by MRV methodologies.
- Soil Capital: Soil Capital is a European regen ag carbon platform paying European farmers for verified soil carbon sequestration and selling credits to corporations, making it a regional direct peer to Carbon by Indigo across Indigo's European footprint.
- CIBO Technologies: CIBO Technologies provides AI-driven land and agricultural intelligence for sustainability and Scope 3 programs, and combined with Indigo's Source business to form Terion in June 2026. Pre-combination, it was a directly comparable digital ag MRV peer.
- Bioceres Crop Solutions: Bioceres is a Latin American agricultural biologicals and seed company (HB4 drought-tolerance, microbial inoculants) operating across Argentina and Brazil markets where Indigo also distributes biologicals. Comparable business model combining biological inputs with sustainability-linked outcomes.
- AgBiome: AgBiome is a microbial crop protection and biologicals company developing products from a proprietary microbial library, directly comparable to Indigo's biotrinsic microbiome platform. Both target row crop and specialty growers with science-driven biological alternatives.
Broad incumbents
- Cargill RegenConnect: Cargill's RegenConnect program pays farmers for regenerative practices and sells Scope 3 outcomes to corporate buyers, directly overlapping Indigo's Carbon by Indigo and Source offerings. As a global agribusiness incumbent, Cargill has deeper farmer reach but offers carbon as part of a much broader commodity and inputs portfolio.
- Bayer ForGround (Climate FieldView): Bayer's ForGround platform combines regenerative agriculture incentives with its Climate FieldView digital agronomy suite, mirroring Indigo's combination of carbon programs, biologicals, and digital farmer tools. Bayer brings incumbent seed/traits scale, biologicals research, and a global ag retail footprint.
- Pachama: Pachama is a digital carbon credit marketplace primarily focused on forestry credits but increasingly expanding into agricultural soil carbon, competing with Indigo for corporate buyers seeking high-integrity nature-based offsets.
- Syngenta Group (incl. Syngenta Biologicals): Syngenta is a global ag inputs incumbent with a growing biologicals portfolio (acquisitions and partnerships) and regenerative agriculture programs, overlapping with Indigo's biologicals business and channel-partner strategy. Indigo's founding CFO Pedro Langa's earlier career included a Syngenta Ventures role, indicating industry overlap.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Indigo social profiles
Digital presenceIndigo compliance and trust
Trust signalCompliance7 records
Indigo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Indigo leadership team
Management profileNumber of profiles
Profiles9 records
Indigo subsidiaries and ownership
Company hierarchySubsidiaries7 records
Indigo funding detail
Funding detailFunding overview
Funding rounds12 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Indigo M&A and investment
M&A and investmentM&A2 records
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Indigo
What does Indigo do?
Indigo Ag operates an agricultural technology platform that combines microbe-based biological seed and foliar treatments (biotrinsic) with the largest registry-approved agricultural soil carbon credit program (Carbon by Indigo). Farmers adopt regenerative practices, generate verified soil carbon credits via Indigo's MRV engine, and receive 75% of credit revenue, while corporations and agribusinesses purchase high-integrity carbon credits, sustainability program services, and biological products to meet Scope 3 and ESG commitments.
Is Indigo a public or private company?
Indigo is a private company. It is classified as venture growth investor backed and is currently operating.
When was Indigo founded?
Indigo was founded in 2014. It employs 1 to 10 people.
Where is Indigo based?
Indigo is headquartered in Boston, United States, in the North America region.
How does Indigo make money?
Six revenue lines are on record. Carbon credit sales are the primary driver. The others are biological product sales (biotrinsic), CLIPS technology licensing, sustainability program services (corporate/enterprise), water conservation programs and low-carbon biofuels programs.
Who are Indigo's main competitors?
Direct peers on record are Pivot Bio, Nori, Soil Capital, CIBO Technologies, Bioceres Crop Solutions and AgBiome. Broad incumbents are Cargill RegenConnect, Bayer ForGround (Climate FieldView), Pachama and Syngenta Group (incl. Syngenta Biologicals).
Does Indigo have an API?
Yes. Indigo provides APIs through which its Services are made available to participants. As stated in the Indigo Ag Privacy Policy: "The Services may be made available to you through any of the existing and future electronic systems, APIs, SMS platforms and other platforms (collectively, the 'Systems')." The Privacy Policy also references "Use of the APIs, SMS and other platforms through which Indigo makes the Services available." No public developer documentation, public REST/GraphQL endpoints, authentication method, rate limits, or versioning are described in the available sources.
What industry is Indigo in?
Indigo's product category is Sustainable Agriculture Solutions. Its primary akta.pro industry code is EUABAFAG, Soil Carbon & Regenerative Agriculture Removal (Soil Organic Carbon Credits), with a secondary code of EUABACAH, Soil & Biomass Carbon Measurement (Soil Sampling, Forest Inventory, Blue Carbon). Its NAICS code is 1153 and its SIC code is 700.