A Boston unicorn is walking in Memphis.

Agriculture tech startup Indigo Ag is building a North American headquarters for commercial operations in Memphis. The Tennessee office will eventually employ more than 700, including executives like Indigo CEO David Perry. The company does not plan to cut jobs at its Boston headquarters, where it intends to expand its research, development and data science departments, the Boston Globe reports.

“We are committed to Memphis, a hub for North American agriculture, and we are excited to continue to grow in such an innovative and forward-focused city,” Perry said in a statement to the Globe.

Indigo’s Memphis operation will be downtown at the Toyota Center. The expansion is part of a company push to be closer to its agricultural customers and growers who do research for Indigo.

“The researchers in Boston are helping farmers be more efficient in growing crops,’’ Memphis Mayor Jim Strickland said to the Daily Memphian. “That’s why Memphis is perfectly suited. We’re a big city where you can get a quality workforce but, within 30 minutes, you can be visiting with farmers. They can literally be in the field.’’

The startup is one of Massachusetts’ 12 startup companies with a valuation exceeding $1B. The so-called unicorn has been linked to a planned 365K SF Charlestown office tower after a rendering with its logo attached was filed with the Boston Planning & Development Agency.