AgTech Weekly Review

2024 AgTech Year in Review: Key Developments

As 2024 concludes, the AgTech sector saw notable developments across various segments. Find out more in our 2024 AgTech Year In Review!

As 2024 concludes, the agricultural technology sector has witnessed notable advancements across precision agriculture, vertical farming, greenhouses, plant science, crop protection, genomics, and soil intelligence. This AgTech Year in Review highlights the focus on automation, sustainability, and efficiency, driving funding rounds, strategic partnerships, and technological developments.


What Were the Key Funding Highlights in Agricultural Robotics & Automation?

Monarch Tractor raised $133M in Series C funding, with support from Astanor and HH-CTBC Partnership. The company’s AI-driven autonomous tractor, the MK-V, targets specialty crops, addressing labor shortages and automation.

Carbon Robotics secured $70M in Series D funding, expanding production of the LaserWeederâ„¢, which targets weeds without chemical use. Expansion into Europe and Asia-Pacific is planned.

Pyka raised $40M (Series B) for its autonomous electric aircraft used in agriculture and other industries. Partnerships with Dole and the U.S. Air Force continue to shape their growth.

Bluewhite closed $39M in Series C funding, focusing on autonomous tractor solutions through Robot-as-a-Service (RaaS). The company is expanding globally, with projections indicating market growth.


What Were the Major Developments in Vertical Farming in 2024?

Bowery Farming closed its operations in 2024 after facing financial hurdles and not succeeding in raising funds and finding a new acquirer.

GrowUp (UK) secured £38M from Generate Capital to scale vertical farming operations in Kent, supplying bagged salads to supermarkets.

Plenty Unlimited, in collaboration with Mawarid Holding (UAE), launched a $130M vertical strawberry farm in Abu Dhabi. Driscoll’s pre-committed to the entire output.

Dubai’s latest GigaFarm, initiated by ReFarm Global and IGS, plans to produce 3M kg of food annually. The project is supported by the UAE government.


How Did Greenhouse Expansion and Innovation Progress in 2024?

BrightFarms opened a greenhouse in Texas, using the KUBO Ultra-Clima system. The facility aims to expand leafy green distribution.

Mucci Farms (Canada) acquired Hacienda North Farms, adding 159 acres to their operations. Their focus remains on high-yield, sustainable production.

Gotham Greens launched a 210,000 sq. ft. greenhouse in Texas, emphasizing water efficiency and land conservation.


What Were the Key Funding and Product Expansions in Agricultural Innovation?

Sound Agriculture extended their Series D by $25M, focusing on nutrient efficiency solutions such as SOURCE® and BLUEPRINT™.

Inari secured $103M, advancing AI-powered crop science innovations.

InnerPlant raised $30M to develop genetically engineered crops that emit signals under stress, aimed at early detection of crop threats.


What Partnerships and Funding Shaped Crop Protection & Sustainability?

AgroSpheres partnered with BASF to develop bioinsecticides, with $37M in Series B funding.

Syngenta collaborated with Enko to develop herbicides targeting resistant weeds.

Elicit Plant raised $48M to expand its phytosterol-based solutions for crop water use reduction.


What Were the Key Developments in Gene Editing & Agricultural Biotech?

Pairwise raised $40M in Series C funding to enhance crop traits through gene editing.

Solis Agrosciences acquired Ferris Genomics to expand genomic breeding capabilities.

GeneNeer Ltd. raised $1M to further potato crop breeding solutions.


What Advancements Were Made in Soil Intelligence & Sustainable Agriculture?

EarthOptics merged with Pattern Ag to enhance soil health intelligence through digital twin technology.

Trace Genomics raised $10.5M in Series B to expand soil health analysis.

Biome Makers scaled their BeCrop technology for soil microbiome analysis, focusing on sustainable farming practices.


What Are the Key AgTech Events and Conferences to Look Forward to?


Thank You for 2024

In 2024, the subscriber community grew by 3,000, reaching an average open rate of 57%. We appreciate the continued engagement and look forward to sharing updates in 2025 as part of the next AgTech Year in Review.

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As a dedicated journalist and entrepreneur, I helm iGrow News, a pioneering media platform focused on the evolving landscape of Agriculture Technology. With a deep-seated passion for uncovering the latest developments and trends within the agtech sector, my mission is to deliver insightful, unbiased news and analysis. Through iGrow News, I aim to empower industry professionals, enthusiasts, and the broader public with knowledge and understanding of technological advancements that shape modern agriculture. You can follow me on LinkedIn & Twitter.

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