Gevo Acquires CultivateAI to Expand Verity's Agricultural Data Capabilities
September 26, 2024
Gevo, Inc. has acquired Cultivate Agricultural Intelligence, LLC (CultivateAI) for $6 million in cash, with potential additional earn-out payments, and will fold the business into its Verity subsidiary. CultivateAI is a cloud-based SaaS provider of agricultural data and analytics (expected 2024 revenue $1.7 million) that Gevo plans to combine with Verity's carbon accounting tools to expand revenue streams and accelerate capability development.
- Buyers
- Gevo, Inc.
- Targets
- Cultivate Agricultural Intelligence, LLC (CultivateAI)
- Industry
- Agriculture
- Location
- Florida, United States
- Transaction Type
- Buyout
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