- Agtonomy recently announced it raised $13.5 million in funding. These are the details.
Agtonomy recently announced it raised $13.5 million in funding.
Funding amount: $4.5 million
Funding round: Third round of seed funding
Total funding raised: $13.5 million in total seed funding
Investors: Led by Cavallo Ventures (the venture arm of Wilbur-Ellis) and Mirae Asset Venture Investment (VC arm of Mirae Asset Financial Group). Other leading names including Toyota Ventures and David Duncan, Proprietor, Chairman & CEO of Silver Oak Cellars, also participated in this round.
What the funding will be used for: This latest funding will be used to add strategic depth to the team, expand the fleet of vehicles now operating with Agtonomy technology in the fields, and accelerate trials of the service platform designed to address the growing skilled labor challenges facing local agriculture.
What Agtonomy does: Agtonomy enables sustainable, autonomous machines that are affordable to the majority of farmers in the world who do not fall in the “big ag” category. And by partnering with some of the most trusted names in agricultural OEM equipment, Agtonomy will deliver immediate value to local farmers by leveling up skilled labor with technology that automates repetitive workload tasks with increased efficiency and precision.
KEY QUOTES:
“Agtonomy is on a mission to close the labor gap being experienced by many in the farming community. Farmers face tremendous challenges in a time where skilled labor shortages are contributing to high food prices. We are thrilled to grow our network of support around Agtonomy and accelerate our impact on the global food chain through this latest round of funding.”
— Tim Bucher, CEO and Co-Founder of Agtonomy
“We like to invest in emerging and next generation technologies and products that will guide the future of agriculture and couldn’t be more excited to partner with Agtonomy, a company doing just that. The team is made up of both technologists and lifelong farmers, who truly understand the pain points and needs of the customer. It’s what makes the team stand out amongst others and what makes us excited to partner with Agtonomy.”
— Brett Morris, Managing Director at Cavallo Ventures
“South Korea is a major hub for agricultural equipment manufacturing and innovation. We are always on the lookout for start-ups that are pioneering technology that will evolve agriculture as we know it. Agtonomy’s game-changing technology allows farming operations to automate workloads and increase labor efficiency. We could not be more thrilled to be a partner.”
— Scott Kim, General Manager of Mirae Asset Venture Investment
“As a leading Cabernet brand based in Napa Valley, we are always looking to bring the best product to our customers in the most innovative and sustainable way possible. I witnessed a demonstration of what Agtonomy is building and I knew I wanted to be a part of it. This is the future of farming, and I am excited to be working with Agtonomy to bring this technology forward.”
— David Duncan, Proprietor, Chairman & CEO of Silver Oak Cellars
