640 Labs, originally a Serra Capital II portfolio company, was featured on chicagobusiness.com in an article titled “How Big Data is Revolutionizing Farming” on April 30. 640 Labs utilizes the power of analytics, mobile technologies and cloud computing to provide a valuable tool for farmers and ag professionals. The article features how 640 Labs is revolutionizing the farming industry through real time data.
Rob Schultz, Managing Partner with Serra Capital, is quoted as saying “The next revolution in ag is big data, as surely as the tractor was a revolution that replaced the horse and plow. Craig and Corbett developed a piece of hardware to collect data in an elegant and easy way to improve yields.”
640 Labs was acquired by Monsanto’s Climate Corporation in December of 2014. Serra Capital II initially invested in 640 Labs in June 2014 with a second tranche in October. Serra’s internal rate of return (IRR) on the investment was 468%.