FarmWise raises $45M Series B to expand AI-powered agricultural equipment on US farms

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The syndicate includes Fall Line Capital, Middleland Capital, GV and Taylor Farms; Mitchell clay join the board

SALINAS, Calif., June 1, 2022 /PRNewswire/ — Farm automation startup FarmWise Labs, Inc. today announced that it has completed a $45 million Series B funding round, led by leading venture capital firms AgTech Fall Line Capital and Middleland Capital, with participation from GV and Taylor Farms, a leading grower and processor of leafy greens and fresh vegetables. Existing investors Calibrate Ventures, Playground Global, SVG Ventures and the venture arm of Wilbur Ellis also participated in the tour. To date, FarmWise has collected $65 million in equity. With this trick, Mitchell clayco-founder and managing director of Fall Line Capital and member of the fifth generation Iowa farmer joins the FarmWise Board of Directors.

“We launched FarmWise with the belief that farmers should have profitable and sustainable solutions to feed a growing world, and artificial intelligence is the perfect technology to make that a reality,” said Sebastien 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.”

Monitoring plant-level data with state-of-the-art equipment, the FarmWise system mechanically removes individual weeds with sub-inch precision. Leveraging a fleet of automated weeders, the company has operated as a custom service provider for large vegetable farms across California and Arizona for three business seasons, tripling revenue year-over-year. 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,” says Ted Taylor, head of new ventures and business development 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 Purdue University, 60% of US growers who participated 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 deliver significant savings for growers in the vegetable market and beyond at a time when it is no longer needed,” said Mitchel clayco-founder and managing director of Fall Line Capital.

With this new round of funding, FarmWise is accelerating its roadmap to launch a vegetable weeding tool that sets a new standard for reliability and versatility in agricultural robotics, and solidifies FarmWise’s position as a leading robotic solutions provider. for vegetable growers. This new funding will allow the company to serve many more farmers within the vegetable industry and begin to add capacity for its technology to be used on row crop farms which are also facing shrinking Resource.

About FarmWise
For vegetable growers facing rising costs and new regulatory pressures, FarmWise builds innovative systems to streamline farming operations and increase food production efficiency. FarmWise’s first product is an automated mechanical weeder powered by AI and robotics, named Titan. It detects weed crops and pulls them down to the nearest centimeter without using chemicals. To learn more, please visit https://farmwiselabs.com/.

About Fall Line Capital
Fall Line Capital is a private equity firm focused solely on investments in US farmland, active farmland management and AgTech startups that are strategic to its land holdings. Fall Line seeks to address the long-term imbalance of supply and demand for agricultural products by combining the best of precision farming techniques with agronomy and the latest new technologies to alter the fundamental productivity and value of crops. farming lands. Fall Line’s AgTech investments include Benson HillGreenlight Biosciences, Granular (acquired by DuPont/Pioneer) and Planet, among others.

About Middleland Capital
Capital of Middleland is a private investment firm focused on global opportunities in the food and agriculture technology sectors. Leveraging a unique breadth of geographic and industry experience, the company seeks long-term partnerships with exceptional management teams to bring innovative technologies to market, accelerate growth and create long-term value.

SOURCE FarmWise

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