Verdant Robotics announced the close of $46.5 million in Series A funding, an investment period that took three rounds over the last three years. The investment will enable the company to scale the production of its advanced agricultural robotic cultivation technology and accelerate go to market programs. With the close of this round, the company has raised a total of $46.5 million to date (source: Crunchbase).
In this round, lead investor Cleveland Avenue was joined by 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 ag robotics reports www.therobotreport.com
Verdant is an innovator in the smart implement sub-market of agtech. The technology developed and employed by Verdant enables the smart implement to autonomously cultivate, weed and specialty crops.
Vision cameras image the ground underneath the implement, then use artificial intelligence to identify crop plants, beneficials, and weeds. The weeds are targeted for removal while beneficial and crop plants are nurtured and treated as necessary to maximize growth.
Unlike self-driving tractor companies, Verdant is focusing on deploying its solution as a standard implement. It can be attached behind either a manually driving or autonomous tractor, which future-proofs the design and makes it immediately applicable to tens of thousands of acres where no automation is currently in operation.
The solution also serves as a data gathering platform, collecting information about the current state of crops from the cameras used to identify and classify what it sees in the ground.