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AUTONOMOUS WEEDER TECHNOLOGY DEVELOPER STARTUP FARMWISE RECEIVES $45 MILLION INVESTMENT
Jun. 6, 2022
Farm Equipment magazine reports:
Farm automation startup FarmWise Labs announced June 1 that it has completed an oversubscribed $45m Series B funding round, led by leading AgTech venture firms Fall Line Capital and Middleland Capital, with participation from GV and Taylor Farms, a leading grower and processor of leafy greens and fresh vegetables. Existing investors Calibrate Ventures, Playground Global, SVG Ventures and the venture arm of Wilbur Ellis also participated in the round. To date, FarmWise has raised $65 million in equity.
With this round, Clay Mitchell, co-founder and managing director of Fall Line Capital and a fifth-generation Iowa farmer, joins the FarmWise board of directors.
"We started FarmWise with the conviction that farmers should be supplied with cost-effective, sustainable solutions to feed a growing world, and artificial intelligence is the ideal technology to make this a reality," says Sebastien Boyer, co-founder and CEO of FarmWise. "With rising costs in the agricultural industry, we're continuing to expand our technology to work with many more farmers."
Monitoring plant-level data with state-of-the-art equipment, the FarmWise system mechanically removes individual weeds with sub-inch precision. Leveraging a fleet of automated weeders, the company has been operating as a custom service provider to large vegetable farms across California and Arizona for 3 commercial seasons, increasing revenues threefold year over year. After 15,000 commercial hours, FarmWise has enriched its plant database with over 450 million scanned images of individual crops.
"Over the past 2 years, it has been exciting to watch FarmWise establish itself as a reliable solutions partner to many in our industry," says Ted Taylor, head of new ventures and business development at Taylor Farms. "We are thrilled to be supporting FarmWise as a customer, and now investor, as they move into the future."
To read the entire report click here.
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