The Bee Corp., an Indianapolis-based ag-tech firm, has shut down after eight years.
Founded by Indiana University graduates Ellie Symes and Wyatt Wells in 2016 after winning IU’s Business Entrepreneurs and Technology Competition, the company dissolved its business registration with the Indiana Secretary of State’s office in May.
In a statement to the Indiana Business Journal, Symes said, “The Bee Corp. dissolved the company, settled debts, and helped employees find new roles.”
The firm attracted attention for its beehive technology known as Verifli, which has been transferred to the U.S. Department of Agriculture’s Carl Hayden Bee Research Center. Verifli uses an infrared image to track the number of bees in a hive, providing an overall health measure of the colony.
In June, Symes took a job at the McKinney Family Foundation, which works to advance environmental sustainability in Indiana.
The company secured more than $3 million in outside investment and grant funding during its eight-year run. Symes won a Rising Star award in TechPoint’s 2018 Mira Awards at the age of 23. Both founders were also named in Forbes 30 under 30 list in 2022.
Read more: Artificial Intelligence and agriculture: a surprising combination
