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TMCNet:  Advanced Farm Technologies Completes $25 Million Series B Funding Round

[September 21, 2021]

Advanced Farm Technologies Completes $25 Million Series B Funding Round

Advanced Farm Technologies, Inc., developers of robotic technology for farmers, announced today it has completed a Series B investment round raising $25 million to support the company's growth in strawberry harvesting and the adaptation of its technology to apple harvesting. The Series B funding round was led by Catapult Ventures and included all the Series A investors: Kubota Corporation, Yamaha (News - Alert) Motor Corporation, and Impact Ventures.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210921005243/en/

Advanced Farm TX Strawberry Harvester picking strawberries in the field. The company announced the close of a $25 million Series B funding round led by Catapult Ventures and including all of the Series A investors: Kubota Corporation, Yamaha Motor Corporation, and Impact Ventures. (Photo: Business Wire)

Advanced Farm TX Strawberry Harvester picking strawberries in the field. The company announced the close of a $25 million Series B funding round led by Catapult Ventures and including all of the Series A investors: Kubota Corporation, Yamaha Motor Corporation, and Impact Ventures. (Photo: Business Wire)

"It is gratifying to have the ongoing support and commitment from our early investors in this funding round. It reflects all of our team's hard work to develop and bring our TX Strawberry Harvester to the market," said Kyle Cobb, President, and Co-Founder of Advanced Farm Technologies. "Our success is also a testament to our grower partners in srawberries and apples who work with us to find creative ways to introduce automation into their ranches today, while giving us the feedback we need to rapidly iterate and improve the tech."

Designed to work alongside manual harvest crews, the Advanced Farm TX Robotic Strawberry Harvester automatically senses and picks red, ripe fruit from in-soil strawberry beds with gentle, food-grade gripper technology. The purpose-built machine consists of multiple, rugged robots able to withstand the rigors of outdoor, in-soil conditions with sophisticated computer vision and machine learning technology to navigate fields and harvest fruit autonomously up to 24 hours a day. The early market success of the TX Robotic Strawberry Harvester is a promising solution for the strawberry and apple industries that face persistent labor supply challenges.

"The Advanced Farm team demonstrated tremendous discipline with the earlier fundraising, making $10 million go a very long way in developing and commercializing its technology quickly and creating the foundation needed to go to market," said Rouz Jazayeri, Managing Partner of Catapult Ventures. "With this latest investment round, the company can scale its team and robotic technology, with an eye toward expanding market share and adapting its technology for new crops, to deliver on the promise of automated harvesting for 21st-century farming."

Deploying its TX Robotic Strawberry Harvester fleet to work in fields in the major strawberry-producing centers of California, Advanced Farm has assisted the world's leading strawberry growers, including GoodFarms, The Oppenheimer Group (Oppy), and Naturipe to bring tens of thousands of pounds of fresh fruit to market.

"We are fortunate to have the opportunity to work with the best in our industry and continue to be impressed by the practical, hands-on approach of Advanced Farm - a proven team that is building upon their past success to bring meaningful automation solutions to farming," said Dave Murray, Partner at GoodFarms. "Automating our harvest with the Advanced Farm TX Robotic Strawberry Harvester helps us serve our customers, allowing us to better support our farmworkers, and expand operations to meet the consumer demand for high quality, affordable fresh fruit."

About Advanced Farm Technologies

Advanced Farm Technologies develops robotic technology for farmers. In 2019, Advanced Farm became the first U.S. company to commercialize robotic strawberry harvesting, bringing fresh fruit to market using its innovative T-6 platform designed specifically for soil-planted beds. With more than $70 million in customer commitments, Advanced Farm is working to innovate its technology through collaborative partnerships, including one with the U.C. Davis breeding program, to develop a full spectrum of automated solutions for in-field strawberry harvesting from picking to sorting and packing.

Advanced Farm Technologies is a private company based in Davis, Calif. For more information, visit www.advanced.farm.


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