Iron Ox, which launched an autonomous farm some years ago, announced a new investment round of $50M, bringing total funding to date to $100 million.
The series C was led by Breakthrough Energy, an investment group dedicated to achieving net-zero emissions by 2050. Other investors in the Series C round include Crosslink Capital, R7 Partners, Pathbreaker Ventures, I/O Ventures, Amplify Partners, ENIAC Ventures, Tuesday Ventures, At One Ventures, and Y Combinator.
Iron Ox is expanding its intellectual property portfolio in robotics and artificial intelligence. Thanks to the company's groundbreaking technology, Iron Ox farms require 90% less water than traditional farms and use 90% less electricity than LED-based vertical farms, all while generating 30 times more produce per acre of land. The company’s mission is to make the global agriculture sector carbon negative.