Indianapolis-based The Bee Corp has received its second investment from IU Ventures. The company, which has developed technology to determine the health of beehives, says it will use the $125,000 from the IU Angel Network to enhance its technology and bring it to new markets.
The Bee Corp was founded by IU alumni Ellie Symes and Wyatt Wells. The company’s product, Verifli, uses infrared technology and data analytics to help commercial growers and beekeepers evaluate the health of their hives that are used to sustain health crop production.
“We are extremely pleased to advance the development of one of IU’s most successful student-initiated startups, which marked its fifth anniversary last year, through the support of our expanding IU Angel Network,” said Jason Whitney, vice president of venture development at IU Ventures and executive director of the IU Angel Network. “We hope this new investment will enable The Bee Corp to further optimize its breakthrough technology platform for improving bee colony management and crop pollination and expand the use of this platform in more markets across the nation and world.”
The Bee Corp previously received a $250,000 investment from the IU Philanthropic Venture Fund, another program of IU Ventures.
The company originally created Verifli to assist almond growers in California. Last year, The Bee Corp launched pilot studies of the technology for pollination of other crops, including sunflowers and blueberries.
Since its founding, The Bee Corp has raised more than $3 million in funding. Symes and Wells were also recently named to Forbes’ 30 Under 30 List for 2022.
Last week, Symes appeared on the Ag+Bio+Science podcast with AgriNovus Indiana. You can connect to the podcast by clicking here.