AgTech · Series A Stage Due Diligence

AgTech Series A Due Diligence Checklist

The complete Series A due diligence checklist for AgTech startups. Prepare your data room, anticipate every investor request, and close your round faster.

All Checklists

4–8 weeks

Typical DD Timeline

5

DD Categories Covered

50+

Checklist Items Total

AgTech Regulatory DD Context

AgTech DD includes EPA and USDA regulatory review for any biological or chemical products. Data platform companies face fewer regulatory hurdles but investors still evaluate commodity price sensitivity and climate risk.

Data Room Essentials for Series A

Documents to have ready before DD begins

  • 2–3 years of financial statements (audited preferred)
  • All customer contracts and MSAs
  • IP ownership documentation and patent portfolio
  • All employee offer letters and equity agreements
  • Board minutes for all meetings
  • All material third-party agreements
  • Data room access log maintained

LEGALLegal Due Diligence

Full legal review by investor counsel covering all corporate documents, IP ownership, key contracts, employment agreements, and regulatory compliance. Takes 4–6 weeks.

General Legal Items

  • Certificate of Incorporation and all amendments
  • Bylaws and any shareholder agreements
  • Cap table with fully diluted ownership by class
  • All convertible instruments (SAFEs, notes, warrants)
  • Option pool documentation and all grants
  • Founder IP assignment agreements
  • Co-founder agreements and vesting schedules
  • Material third-party agreements

AgTech-Specific Legal Items

  • EPA pesticide and chemical registration compliance
  • USDA organic certification documentation (if applicable)
  • Water rights and irrigation agreements
  • Grower and farmer contract enforceability review
  • Food safety certification (SQF, BRC, GlobalG.A.P.)

FINANCIALFinancial Due Diligence

Full financial audit or reviewed financial statements (Big 4 or regional firm). Full unit economics model with cohort analysis. Multi-year financial model reviewed by FP&A.

General Financial Items

  • Financial statements (P&L, balance sheet, cash flow)
  • Bank statements (12+ months)
  • Accounts receivable aging report
  • Accounts payable aging report
  • Payroll records and headcount history
  • Revenue recognition policy documentation
  • Tax returns and any outstanding tax obligations
  • Insurance policies (D&O, E&O, general liability)

AgTech-Specific Financial Items

  • Seasonal revenue normalization and cohort comparisons
  • Grower retention rate by crop type and geography
  • Yield improvement ROI data from customer farms
  • Per-acre economics and contract size trends
  • Commodity price sensitivity in revenue model

PRODUCTProduct and Technical Due Diligence

  • Field trial data and agronomic performance validation
  • Sensor and IoT device reliability and connectivity in rural settings
  • Data platform scale and processing pipeline documentation
  • Integration with precision agriculture platforms (John Deere, CNH)
  • Climate and weather model data licensing

MARKETMarket Due Diligence

  • Distribution channel relationships and exclusivity
  • Competitive assessment vs. Bayer, BASF, and AgTech startups
  • Government program (FSA, USDA REAP) eligibility for customers
  • Seasonal adoption and churn patterns by crop cycle

TEAMTeam Due Diligence

Formal background checks for all officers and directors. Reference calls with 5–8 professional contacts per founder. Prior employer verification.

  • LinkedIn profiles for all founders and officers
  • Employment agreements for key personnel
  • Equity grant history and vesting schedules
  • Any prior employer IP invention disclosure forms
  • Non-compete and non-solicitation agreements
  • Professional reference contacts (3+ per founder)
  • Advisory board agreements and equity grants
  • Organizational chart as of current date

Frequently Asked Questions

How long does Series A due diligence typically take for AgTech startups?

AgTech Series A due diligence typically takes 4–8 weeks. Full legal review by investor counsel covering all corporate documents, IP ownership, key contracts, employment agreements, and regulatory compliance. Takes 4–6 weeks. Having a complete data room ready before DD kicks off can reduce this timeline by 30–50%.

What AgTech-specific items do investors review during Series A DD?

For AgTech at the Series A stage, investors focus heavily on: EPA pesticide and chemical registration compliance, USDA organic certification documentation (if applicable), and Seasonal revenue normalization and cohort comparisons, Grower retention rate by crop type and geography. AgTech DD includes EPA and USDA regulatory review for any biological or chemical products. Data platform companies face fewer regulatory hurdles but investors still evaluate commodity price sensitivity and climate risk.

What should I put in my data room?

Your Series A data room should include: 2–3 years of financial statements (audited preferred); All customer contracts and MSAs; IP ownership documentation and patent portfolio; All employee offer letters and equity agreements; Board minutes for all meetings; All material third-party agreements; Data room access log maintained. Use a structured folder system that mirrors investor expectations — most institutional investors use a standard folder taxonomy.

What are the most common due diligence deal-killers?

The five most common DD deal-killers are: (1) undisclosed founder litigation or criminal history, (2) IP ownership gaps — particularly for university-origin technology, (3) customer contract terms that prevent assignment on change of control, (4) cap table math errors or undocumented equity grants, and (5) financial restatements required after revenue recognition review.

What team due diligence should I expect at the Series A stage?

Formal background checks for all officers and directors. Reference calls with 5–8 professional contacts per founder. Prior employer verification.

Download the Full Checklist

Get the AgTech Series A due diligence checklist as a Google Sheets or Notion template. Track completion status for every item in your data room.

Includes data room folder template, investor question tracker, and reference FAQ guide

Other AgTech Stages