Verdant Robotics announced the close of a USD$46.5 million Series A funding to scale its advanced robotic technology and accelerate broad adoption of its regenerative and precision ag solutions.
Lead investor Cleveland Avenue was joined by DCVC Bio, Future Ventures, SeaX Ventures and all existing investors, including Autotech Ventures, Cavallo Ventures, and AgFunder, making the series one of the largest investments in ag robotics to date.
Verdant’s commercial Robotics-as-a-Service (RaaS) actively services a wide variety of specialty crops on thousands of acres with orders pending for tens of thousands of additional acres. The investment enables Verdant to rapidly scale its fleet while developing next generation products that increase RaaS efficiency. Verdant states its multi-action, autonomous platform is the only ag robot in the U.S. market that can simultaneously weed, fertilize and treat plants for pests and diseases – all while collecting data on each plant allowing farmers to make key decisions in real time.
“Verdant’s ultra-precision spraying platform is here today — adding new value while doing more with less,” said Gabe Sibley, PhD, co-founder and CEO of Verdant Robotics. “Thanks to the ongoing support from our investors, growers can thrive as we deploy this transformative technology together.”
The global agriculture autonomous robots market is projected to reach $10.5 billion in 2027, growing at a CAGR of 19 percent during the forecast period 2022-2027; driven by the growing need for precision, digital and smart agriculture practices to meet food and sustainability demands.
Read the SEP/OCT 2022 issue of New AG International, free to view here.