Advanced Farm Technologies Closes $ 25 Million Series B Funding Round

DAVIS, Calif .– (COMMERCIAL THREAD) – Advanced Farm Technologies, Inc., a developer of robotic technology for farmers, today announced it has completed a Series B investment round, raising $ 25 million to support the company’s growth in harvest strawberries and the adaptation of its technology to the apple harvest. The Series B funding round was led by Catapult Ventures and included all Series A investors: Kubota Corporation, Yamaha Motor Corporation and Impact Ventures.

“It is gratifying to have the continued support and engagement of our early investors in this funding round. This reflects all of the hard work of our team to develop and market our TX strawberry harvester, ”said Kyle Cobb, president and co-founder of Advanced Farm Technologies. “Our success is also a testament to our strawberry and apple growing partners working with us to find creative ways to bring automation to their ranches today, while giving us the feedback we need to iterate and improve. technology quickly. ”

Designed to work with manual harvesting crews, the Advanced Farm TX robotic strawberry harvester automatically detects and picks ripe red berries from buried strawberry beds using gentle, food-grade gripping technology. The specially designed machine consists of several robust robots able to withstand the rigors of outdoor and soil conditions with sophisticated computer vision and machine learning technology to navigate fields and harvest fruit autonomously up to 24 hours a day. The early commercial success of the TX robotic strawberry harvester is a promising solution for the strawberry and apple industries facing persistent labor supply challenges.

“The Advanced Farm team showed great discipline in the initial fundraising, which allowed $ 10 million to go a long way in the development and rapid commercialization of its technology and the creation of the bases necessary for its commercialization ”, declared Rouz Jazayeri, Managing Partner of Catapult Ventures. “With this last round of investment, the company can evolve its team and its robotic technology, with the aim of increasing its market share and adapting its technology to new cultures, in order to keep the promise of a automated harvesting for 21st century agriculture. ”

By deploying its fleet of TX robotic strawberry harvesters to work in the fields of major strawberry production centers in California, Advanced Farm has helped the world’s leading strawberry growers including GoodFarms, The Oppenheimer Group (Oppy) and Naturipe bring tens of thousands of pounds. of fresh fruit at the market.

“We are fortunate to have the opportunity to work with the best in our industry and continue to be impressed with Advanced Farm’s hands-on, hands-on approach – a proven team that builds on their past successes to bring automation solutions meaningful to agriculture, ”said Dave Murray, partner at GoodFarms. “Automating our harvest with the Advanced Farm TX robotic strawberry harvester helps us serve our customers, enabling us to better support our farm workers and expand our operations to meet consumer demand for high quality fresh fruit. and affordable.

About advanced agricultural technologies

Advanced Farm Technologies is developing robotic technology for farmers. In 2019, Advanced Farm became the first US company to commercialize robotic strawberry harvesting, bringing fresh fruit to market using its innovative T-6 platform designed specifically for beds planted in the ground. . With over $ 70 million in customer commitments, Advanced Farm strives to innovate its technology through collaborative partnerships, including one with the UC Davis Breeding Program, to develop a complete line of automated harvesting solutions. strawberries in the field, from picking to sorting and packaging. .

Advanced Farm Technologies is a privately held company based in Davis, California. For more information visit www.advance.farm.


Source link

Comments are closed.