Barnstorm Agtech Inc. closed. , a Canadian agricultural robotics startup, announced a $217,500 capital raise through Fort Worth-based investment platform Harvest Returns.
The company said Barnstorm is developing driverless robotic vehicles comparable to compact utility tractors. It plans to deploy “swarms” of motorized tractors and implements as a service to farmers in the US Midwest and Canadian prairies.
The company calls it “Barnstorming”.
“I am a fourth-generation farmer managing 6,000 acres in Saskatchewan. The need for what Barnstorm does is largely driven by my own pain points. Wells teamed up with Mitchell London, a robotics expert and serial entrepreneur, To launch the company in 2020.
The company said Barnstorm is addressing the issue of excessively concentrated hazards in physically large tractor systems, while also addressing chronic labor scarcity in rural areas.
Barnstormers, as the company’s brand of power tractor is called, are designed for basic services like plowing, seeding, and spraying.
The company said the capital raise will assist Barnstorm in its mission to transform the agricultural economy with independent field systems.
Barnstormers have a unique form factor designed specifically for efficient multi-vehicle transportation. It will also feature software APIs and a telemetry suite designed to enable integration with modern precision agriculture solutions. The company said.
“Endorsement from the agriculture-focused investment community”
So far, Barnstorm said, most of Barnstorm’s funding has come from deeptech-focused owners’ syndicates looking for disruptive opportunities based on robotics and autonomy.
In 2021, Barnstorm has been awarded a $350,000 grant by the Government of Saskatchewan, Canada to support the research and development of its swarms of self-driving tractors. The scholarship was administered by Innovation Saskatchewan and funding was from the Agtech Growth Fund, subject to the achievement of several technological achievements.
That year, the startup also came to life $1 million In seed funding from individual investors and two associations of owners: 99Tartans, a group of Carnegie Mellon University Alumni Investors, and Reinforced Ventures, an angel syndicate focused on autonomy, robotics, and deep science.
Now, with the new equity stake from Harvest Returns, Wells says the startup has “endorsement from the investment community that’s also focused on agriculture.”
“This is important to us,” Wells said. “We greatly appreciate the professionalism and integrity of the team at Harvest Returns who have helped coordinate fundraising efforts within this vibrant community.”
Harvest Returns Inc. It is a market for financial technology Created in 2016 by two military veterans To bring together agricultural producers with investors. Its group of more than 12,000 investors has funded more than 40 farms, ranches and other agribusinesses.
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