FarmWise Raises $45M Series B to Scale Up AI-Powered Farming Equipment

Farm automation startup FarmWise Labs has announced that it has completed an oversubscribed $45 million Series B funding round, led by leading venture capital firms AgTech Fall Line Capital and Middleland Capital, with the participation of GV and Taylor Farms, a producer and processor of leafy green vegetables 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 farmer from Iowa, joins FarmWise’s board of directors.

“We launched FarmWise with the belief that farmers needed profitable and sustainable solutions to feed a growing world, and artificial intelligence is the perfect technology to make this a reality,” said Sébastien Boyer, co-founder and CEO of FarmWise. “As costs rise in the agriculture industry, we continue to develop our technology to work with many more farmers.”

The FarmWise system mechanically removes individual weeds with sub-thumb precision. Leveraging a fleet of automated weeders, the company operated as a custom service provider for large vegetable farms across California and Arizona for three business seasons, tripling revenue year-on-year. the other. After 15,000 business hours, FarmWise has enriched its plant database with over 450 million digitized images of individual crops.

“Over the past two years, it has been exciting to see FarmWise establish itself as a trusted solutions partner for many in our industry,” said Ted Taylor, new business and business development manager at Taylor Farms. “We are thrilled to support FarmWise as a customer and now an investor as they look to the future.”

With supply chain disruptions and rising global inflation, farmers are expected to face rising farm input costs. According to Purdue University, 60% of U.S. growers who took part in a recent survey said they expect input prices to rise 30% over the next 12 months. FarmWise is also already working with thirty different farms to mitigate rising production costs in the industry.

“We decided to invest in FarmWise because we believe the technology the team has brought to market can unlock significant savings for growers in the vegetable market and beyond at a time when it is no longer needed,” said Clay Mitchel, co-founder and chief executive officer. of Fall Line Capital.

For more information:
FarmWise
www.farmwiselabs.com

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