Spring 25 Newsletter – From the Desk of Dr. Allan Gray
Many moving parts are required to operate a successful venture studio, transitioning from idea inception to successful startup companies.
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From The Desk of Allan Gray
Many moving parts are required to operate a successful venture studio, transitioning from idea inception to successful startup companies. One critical function is industry research. Many of our readers participate in our most visible activities, such as our Industry Workshops and Pitch Days, yet they seldom see all the research that leads us to this point. To establish a studio theme, such as Sustainability or Food is Health, work begins a year in advance, evaluating key industry trends, comparing them to our 10-year digital transformation plan, and spending time in working groups with our key industry partners.
Additionally, fundamental to this work is ongoing research that monitors industry sentiment, as reflected in our Agrifood Economy Index report. Given that this research is so critical to DIAL Ventures’ success, we thought we would dedicate this newsletter to some of the work being done.
After reading, if you want to work more closely with DIAL in our pursuit of practical solutions to our industry's problems, I suggest you reach out to our Research Manager, Dr. Lourival Monaco, at lmonacon@purdue.edu.
Industry Sentiment Dips Amid Uncertainty: March Agrifood Economy Index Now Available
The latest edition of the DIAL Ventures Agrifood Economy Index reveals a notable downturn in economic sentiment across the agrifood value chain. This eighth edition of the quarterly survey, which gathered insights from 220 executives and decision-makers, paints a sobering picture of industry outlooks.
Among the most pressing insights:
- Future perspectives dampen sentiment: Expectations for the agrifood sector fell to an all-time low, driven by concern over long-term viability and short-term pressures.
- Support Services experienced sharp declines: After quarters of relative consistency, this segment saw a major drop in both current sentiment and future outlook.
- Investment behavior becomes more conservative: Nearly half of respondents reported delaying or reevaluating capital decisions due to inflation, interest rate pressures, and general volatility.
- Tariffs and trade concerns drive cost uncertainty: Respondents flagged unpredictability around input costs and pricing as a key worry, reinforcing the toll of macroeconomic disruption.
As a strategic tool developed by DIAL Ventures, the Index continues to provide valuable benchmarking across six core industry segments—capturing current conditions, future expectations, and investment climate in a rapidly evolving market.
Looking Back: December 2024 Agrifood Economy Index Results
In contrast to Q1 2025, our December 2024 report showcased greater stability across most segments. While caution was still present, the tone was less severe. Some segments were beginning to show signs of resilience. The sharp contrast with today’s findings emphasizes how rapidly industry sentiment can shift—and the importance of keeping a pulse on evolving conditions
.In the below video, I am joined by Dr. Lourival Monaco of DIAL Ventures as we analyze the December 2024 Purdue DIAL Ventures Agrifood Economy Index results, revealing a significant 8-point recovery from August's record low.
DIAL Ventures in the News
We’re proud to see the work of DIAL Ventures featured in recent media publications about the future of agriculture and food systems.
- Seed World spotlighted DIAL Ventures’ studio model, showcasing how our unique approach connects real industry problems with entrepreneurial talent. The article emphasized our role in accelerating digital transformation in agriculture and highlighted the importance of strategically nurturing early-stage innovation.
- Phys.org covered our recently published report on Climate-Smart Agriculture, which outlines five key opportunity areas: resilience, resource optimization, environmental stewardship, data utilization, and the role of policy and finance. The piece highlighted how digital tools can be pivotal to enabling sustainable agriculture at scale.
- AgFunderNews explored the growing disconnect between industry professionals and consumers regarding who should fund the transition to regenerative agriculture. The article referenced DIAL Ventures’ research and emphasized the urgent need for better communication around value creation, cost, and long-term impact.
DIAL Ventures Portfolio Company Updates
Our venture studio model continues to help founders build the future of agrifood. Two of our portfolio companies recently shared exciting milestones:
- Croft has announced record growth, added strategic investors, and launched a nationwide expansion. As the first digital H-2A farm manager platform, Croft provides employers with modern infrastructure to streamline the labor management process—helping to scale one of the most critical systems in U.S. agriculture.
- Gripp, another DIAL-backed venture, raised a $1.5M pre-seed round to advance their platform for modern agricultural operations management. By simplifying field-level data collection and streamlining workflows, Gripp is improving how farmers and agribusinesses manage resources, make decisions, and drive toward greater sustainability.
Thank you for your continued support of DIAL Ventures. Your engagement helps power our mission to build innovative solutions that move agriculture—and the world—forward.
Warm regards,
Dr. Allan Gray
Executive Director, DIAL Ventures
From The Desk of Allan Gray
Many moving parts are required to operate a successful venture studio, transitioning from idea inception to successful startup companies. One critical function is industry research. Many of our readers participate in our most visible activities, such as our Industry Workshops and Pitch Days, yet they seldom see all the research that leads us to this point. To establish a studio theme, such as Sustainability or Food is Health, work begins a year in advance, evaluating key industry trends, comparing them to our 10-year digital transformation plan, and spending time in working groups with our key industry partners.
Additionally, fundamental to this work is ongoing research that monitors industry sentiment, as reflected in our Agrifood Economy Index report. Given that this research is so critical to DIAL Ventures’ success, we thought we would dedicate this newsletter to some of the work being done.
After reading, if you want to work more closely with DIAL in our pursuit of practical solutions to our industry's problems, I suggest you reach out to our Research Manager, Dr. Lourival Monaco, at lmonacon@purdue.edu.
Industry Sentiment Dips Amid Uncertainty: March Agrifood Economy Index Now Available
The latest edition of the DIAL Ventures Agrifood Economy Index reveals a notable downturn in economic sentiment across the agrifood value chain. This eighth edition of the quarterly survey, which gathered insights from 220 executives and decision-makers, paints a sobering picture of industry outlooks.
Among the most pressing insights:
- Future perspectives dampen sentiment: Expectations for the agrifood sector fell to an all-time low, driven by concern over long-term viability and short-term pressures.
- Support Services experienced sharp declines: After quarters of relative consistency, this segment saw a major drop in both current sentiment and future outlook.
- Investment behavior becomes more conservative: Nearly half of respondents reported delaying or reevaluating capital decisions due to inflation, interest rate pressures, and general volatility.
- Tariffs and trade concerns drive cost uncertainty: Respondents flagged unpredictability around input costs and pricing as a key worry, reinforcing the toll of macroeconomic disruption.
As a strategic tool developed by DIAL Ventures, the Index continues to provide valuable benchmarking across six core industry segments—capturing current conditions, future expectations, and investment climate in a rapidly evolving market.
Looking Back: December 2024 Agrifood Economy Index Results
In contrast to Q1 2025, our December 2024 report showcased greater stability across most segments. While caution was still present, the tone was less severe. Some segments were beginning to show signs of resilience. The sharp contrast with today’s findings emphasizes how rapidly industry sentiment can shift—and the importance of keeping a pulse on evolving conditions
.In the below video, I am joined by Dr. Lourival Monaco of DIAL Ventures as we analyze the December 2024 Purdue DIAL Ventures Agrifood Economy Index results, revealing a significant 8-point recovery from August's record low.
DIAL Ventures in the News
We’re proud to see the work of DIAL Ventures featured in recent media publications about the future of agriculture and food systems.
- Seed World spotlighted DIAL Ventures’ studio model, showcasing how our unique approach connects real industry problems with entrepreneurial talent. The article emphasized our role in accelerating digital transformation in agriculture and highlighted the importance of strategically nurturing early-stage innovation.
- Phys.org covered our recently published report on Climate-Smart Agriculture, which outlines five key opportunity areas: resilience, resource optimization, environmental stewardship, data utilization, and the role of policy and finance. The piece highlighted how digital tools can be pivotal to enabling sustainable agriculture at scale.
- AgFunderNews explored the growing disconnect between industry professionals and consumers regarding who should fund the transition to regenerative agriculture. The article referenced DIAL Ventures’ research and emphasized the urgent need for better communication around value creation, cost, and long-term impact.
DIAL Ventures Portfolio Company Updates
Our venture studio model continues to help founders build the future of agrifood. Two of our portfolio companies recently shared exciting milestones:
- Croft has announced record growth, added strategic investors, and launched a nationwide expansion. As the first digital H-2A farm manager platform, Croft provides employers with modern infrastructure to streamline the labor management process—helping to scale one of the most critical systems in U.S. agriculture.
- Gripp, another DIAL-backed venture, raised a $1.5M pre-seed round to advance their platform for modern agricultural operations management. By simplifying field-level data collection and streamlining workflows, Gripp is improving how farmers and agribusinesses manage resources, make decisions, and drive toward greater sustainability.
Thank you for your continued support of DIAL Ventures. Your engagement helps power our mission to build innovative solutions that move agriculture—and the world—forward.
Warm regards,
Dr. Allan Gray
Executive Director, DIAL Ventures