Verdant Robotics, a Hayward, CA-based company that brings technology from autonomous cars and extraterrestrial navigation to agriculture, announced that it closed of $46.5 million in Series A funding.
The investment will enable the company to scale the production of its advanced agricultural robotic cultivation technology and accelerate go-to-market programs.
The round was led by investor Cleveland Avenue and was joined by DCVC Bio, Future Ventures, SeaX Ventures, and all existing investors, including Autotech Ventures, Cavallo Ventures, and AgFunder.
“Verdant’s ultra-precision spraying platform is here today — adding new value while doing more with less. Thanks to the ongoing support from our investors, growers 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 an outsized opportunity requires an oversized effort that only robotics can deliver for agriculture.”
Verdant delivers its solution in a Robots-As-A-Service (RaaS) business model. For customers, RaaS helps to reduce the upfront investment and transfers the costs from a CAPEX decision to an OPEX decision. It also reduces the risk for deploying new technology, as the RaaS vendor doesn’t get paid if the system doesn’t operate as advertised.
Company: Verdant Robotics, Inc.
Raised: $46.5M
Round: Series A
Funding Month: November 2022
Lead Investors: Cleveland Avenue
Additional Investors: DCVC Bio, Future Ventures, SeaX Ventures, Autotech Ventures, Cavallo Ventures, and AgFunder
Company Website: https://www.verdantrobotics.com/
Software Category: Multi-Crop Platform
About the Company: Verdant is an innovator in the smart implement sub-market of agtech. Its goal is to transform how food is grown while improving the lives of farmers, workers, and rural communities. By digitizing the farm at a sub-millimeter scale, indexing it, and taking actions that unlock new value, the company is providing its customers with superhuman farming tools. Verdant’s mission has been to work side-by-side with farmers to solve their greatest future challenge, which is a shortage of farm labor. All the while, the company has been working to ensure that its robotic solution enables more growers to access regenerative and precision practices that support soil health, water conservation, carbon sequestration, and nutrient-dense crops.
Source: https://www.therobotreport.com/verdant-robotics-cultivates-46-5m-in-series-a-funding/