Verdant Robotics is raising $46.5 million in Series A funding

Verdant Robotics is raising $46.5 million in Series A funding

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Verdant Robotics publishes autonomous farming solutions. | Credit: Verdant Robotics

green robots It announced the closing of $46.5 million in Series A funding, an investment period that has taken three rounds over the past three years. The investment will enable the company to scale up production of advanced robotic farming technology and accelerate go-to-market programmes. As this round concludes, the company has raised a total of $46.5 million to date (source: Crunchbase).

In this round, lead investor Cleveland Avenue joined DCVC Bio, Future Ventures, SeaX Ventures, and all existing investors, including Autotech Ventures, Cavallo Ventures, and AgFunder. This level of investment is a positive sign for The growth and trajectory of robotics ag.

Verdant is an innovator in the smart implementation sub-market of agricultural technology. Technology developed and employed by Verdant enables the smart app to independently grow crops, weeds, and specialty crops.

Vision cameras film the ground below the app, then use artificial intelligence to identify crop plants, benefits, and weeds. Weeds are targeted for removal while beneficial plants and crop plants are nurtured and treated as necessary for maximum growth.

Unlike self-driving tractor companies, Verdant is focused on deploying its solution as a standard application. It can be attached either behind a manually driven tractor or a stand-alone tractor, future-proofing the design and making it immediately applicable to tens of thousands of acres where no automation currently exists.

The solution also acts as a data collection platform, gathering information about the current state of crops from cameras used to identify and categorize what you see in the ground.

Robot-as-a-Service requires a significant investment to build a fleet

Verdant delivers its solution Bots as a Service (RaaS) Business Model. For customers, RaaS helps reduce upfront investment and shift costs from a capex decision to an opex decision. It also reduces the risk of new technology deployment, as the RaaS vendor doesn’t get paid if the system doesn’t work as advertised. In many markets, RaaS is a win-win for both customers and sellers because it increases customer familiarity and closes the loop faster on innovation.

RaaS is a great business model when a customer doesn’t expect to become a bot expert. Although farmers are often at the forefront of technology that helps them do their work faster, better, and cheaper. Farmers always balance risk and return because they operate on tight margins, always subject to year-to-year climate.

However, for the seller, it can mean a longer runway for investment with larger and more rounds of financing as the seller builds up its operating fleet. The seller maintains the fleet on its books and continues to upgrade and maintain the fleet throughout its lifetime.

“Increasingly, consumers are demanding food that does the trifecta good for me, my community, and the planet,” said Don Thompson, founder and CEO of Cleveland Avenue, LLC. “Verdant delivers the next-level accuracy that farmers – and our global food supply – need to meet these demands, not just in the next 20 years but the next five.”

Since the company’s founding, Verdant’s mission has been to work hand in hand with farmers to solve their biggest challenge in the future, the agricultural labor shortage. All the while, Verdant has worked to ensure that its automated solution enables more farmers to access regeneration and precision practices that support soil health, water conservation, carbon sequestration, and nutrient-dense crops.

Designed by a team of world-class roboticists, Verdant’s combination of deep learning, deep learning, machine vision, and sub-millimeter accuracy has captured the attention of the entire industry due to its potential to solve several problems currently facing the agricultural sector.

“Verdant’s ultra-fine spray platform is here today—adding new value while doing more with less. With continued support from our investors, farmers can thrive as we deploy this transformative technology together,” said Gabe Sibley, Ph.D., co-founder and CEO of Verdant Robotics. “At Verdant, we believe that a huge opportunity requires a huge effort that only robots can provide for cultivation.”

“Autonomous cars and dancing robots may grab headlines, but there is no more impactful area of ​​application of robotics, automation and machine learning than agriculture. Growing bountiful foods in sustainable ways is the greatest challenge of our generation and the founding principle behind Verdant Robotics,” said Sibley.

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