Total amount raised
$65.2 Millions
Latest funding date
6/1/2022
Location
FarmWise has successfully raised significant funding through multiple investment rounds, attracting a diverse group of investors. The company leverages advanced AI and computer vision technology to develop innovative weeding solutions for agriculture.
Keep reading to explore the intricacies of FarmWise's fundraising journey and the investors backing this forward-thinking platform.
What Is FarmWise?
FarmWise, founded in 2016 by Sébastien Boyer and Thomas Palomares, is headquartered in San Francisco, California. The company specializes in leveraging advanced AI and computer vision technology to enhance agricultural productivity.
FarmWise's flagship product, Vulcan, is an intra-row weeder and precision cultivator designed to help farmers streamline operations and boost efficiency. The company offers a comprehensive training and support program to ensure optimal use of their technology.
With a team of 51-100 employees, FarmWise continues to innovate in the field of agricultural technology, providing solutions that aim to increase food production efficiency and profitability for farmers.
How Much Funding Has FarmWise Raised?
- Seed Round
- Amount Raised: $5.7M
- Date: December 2017
- Lead Investors: Felicis, Playground Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and validate the technology.
- Series A
- Amount Raised: $14.5M
- Date: September 2019
- Lead Investors: Calibrate Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product development.
- Series B
- Amount Raised: $45M
- Date: June 2022
- Lead Investors: Fall Line Capital, Middleland Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate R&D and expand AI-powered farm equipment.
Total amount raised: $65.2M. Current valuation: Not publicly disclosed.
Key Investors
- Fall Line Capital
- Details: Fall Line Capital is a private equity firm focused on investments in U.S. farmland and AgTech startups. Co-founded by Clay Mitchell, who will join the board of directors of FarmWise.
- Investment Focus Areas: U.S. farmland, precision farming techniques, agronomy, AgTech startups.
- Notable Investments: Benson Hill, Greenlight Biosciences, Granular, Planet.
- Middleland Capital
- Details: Middleland Capital is a private investment firm that focuses on global opportunities in the food and agricultural technology sectors. They co-led the Series B funding round for FarmWise.
- Investment Focus Areas: Food technology, agricultural technology.
- Notable Investments: Not specified.
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc., investing in a broad range of sectors including technology and life sciences. They participated in the Series B funding round for FarmWise.
- Investment Focus Areas: Technology, life sciences, agriculture.
- Notable Investments: Not specified.
- Calibrate Ventures
- Details: Calibrate Ventures is a venture capital firm that invests in early-stage technology companies. They participated in the Series B funding round for FarmWise.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not specified.
- Playground Global
- Details: Playground Global is a venture capital firm that invests in hardware and software startups. They participated in the Series B funding round for FarmWise.
- Investment Focus Areas: Hardware startups, software startups.
- Notable Investments: Not specified.
What's Next for FarmWise?
FarmWise stands at the cusp of a significant opportunity to revolutionize agriculture with its AI-powered weeding robots. The agricultural technology market is vast, and the company's recent $45 million Series B funding round underscores the potential for large-scale impact. With plans to expand into new agricultural markets and develop additional products, FarmWise is poised to address labor shortages and rising costs in the farming sector.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated in the recent funding round. As FarmWise scales its operations and technology, additional rounds of investment may be pursued to support further growth and innovation. However, the company may face challenges such as high initial costs, potential resistance from traditional farmers, and technical hurdles in diverse farming environments.
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