# Hi Fidelity Genetics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hi-fidelity-genetics

- Industry: Agribusiness
- Headquarters: Durham, US
- Website: www.hifidelitygenetics.com
- Total disclosed funding: $8.5M
- Latest round: Series A (Dec 13, 2018)
- Investors on record: 7

## About

Hi Fidelity Genetics LLC specializes in providing verified non-GMO corn and soybean seeds to farmers, significantly reducing input costs while enhancing agricultural productivity.Hi Fidelity Genetics LLC focuses on developing and supplying non-GMO seed varieties. Founded by Philip Benfey and Spencer Maughan, the company is headquartered in Durham, US. In December 2018, they raised USD 8.50 mn in Series A funding led by Fall Line Capital and Finistere Ventures, with participation from Gro Alliance, KdT Ventures, Prairie Crest Capital, S2G Ventures, and Tom Farms, LLC.Hi Fidelity Genetics specializes in providing verified non-GMO corn and soybean seeds, aiming to address the financial pressures faced by farmers due to high costs associated with corporate seed suppliers. Their core offerings include a diverse range of corn varieties such as HFG 83, HFG 95, HFG 97, HFG 105, HFG 108, HFG 111, HFG 113, and HFG 114, along with various bean varieties. These products are designed to enhance agricultural productivity while significantly reducing seed costs, serving primarily farmers looking for cost-effective solutions to maximize yields. Hi Fidelity Genetics targets customers in various agricultural markets across the United States, focusing on regions that have been heavily impacted by rising input costs and seeking sustainable farming practices. Their approach emphasizes direct sales to consumers, ensuring that farmers receive their products efficiently through farm-direct shipping.Hi Fidelity Genetics generates revenue through direct sales of its non-GMO seed varieties to farmers, with a business model that facilitates transactions without any minimum order quantities or hidden fees. The company operates on a straightforward pricing structure where farmers can purchase seeds directly, streamlining the purchasing process and improving customer satisfaction. Although specific pricing for their products is not disclosed, the focus on cutting seed costs in half positions their offerings as economically competitive in the market. The firm’s revenue model emphasizes building relationships with agricultural producers, enabling them to achieve better profit margins by providing high-quality seeds that contribute to improved yields and overall farm profitability. The structure of these transactions points towards a direct-to-consumer model, reinforcing their commitment to supporting farmers in navigating the challenges of the agricultural landscape.In December 2018, Hi Fidelity Genetics LLC raised USD 8.50 mn in Series A funding, which will support the development of new seed varieties and expand their market presence. The company plans to introduce additional corn and soybean varieties tailored to the needs of farmers in the US by the end of 2023. Furthermore, Hi Fidelity Genetics aims to expand into new agricultural markets, specifically targeting regions in the Midwest and Southeast US, enhancing their geographic reach by 2024.

## Funding rounds

- Series A, Dec 13, 2018, $8.5M — Finistere Ventures, Fall Line Capital, S2G Ventures, Prairie Crest Capital, KdT Ventures, Tom Farms, LLC, Gro Alliance

## Investors

- Finistere Ventures (https://capitalatlas.ai/funds/finistere-ventures) — Series A
- Fall Line Capital (https://capitalatlas.ai/funds/fall-line-capital) — Series A
- S2G Ventures (https://capitalatlas.ai/funds/s2g-ventures) — Series A
- Prairie Crest Capital (https://capitalatlas.ai/funds/prairie-crest-capital) — Series A
- KdT Ventures (https://capitalatlas.ai/funds/kdt-ventures) — Series A
- Tom Farms, LLC — Series A
- Gro Alliance — Series A