Braiin SPAC deal valued at $215M agtech company
AgTech Precision Ag Stock Market

SPAC: Braiin Enters Into Combination With NRAC For $215M

A business combination agreement between NRAC and Braiin Limited, a multifaceted agricultural technology firm with distinctive technologies and capabilities that dynamically meet high-growth market trends throughout the agriculture ecosystem, was recently signed. Internet of Things (IoT), robotics, software, and artificial intelligence/machine learning (AI/ML) are three essential divisions of Braiin that provide connectivity infrastructure, drones, imagery, analytics, and actionable productivity recommendations to farms. Braiin provides a precision agriculture technology platform with automation, insights, and connectivity. Braiin’s technology enables farmers to enhance yields by an estimated 20–25% by mapping the environment, observing microclimates, and automating cultivation. With locations in six nations, the organization now has 300 employees.

Up to 85% thanks may reduce the use of water and fertilizer to Braiin’s IoT sensor and drone technology, which can also lower health risks and guarantee worker safety. By replacing gasoline-powered sprayers and other fossil-fuel-burning machinery with ecologically friendly rechargeable battery-powered drones, NRAC significantly lowers carbon emissions in the areas where they are used. Current Braiin shareholders will keep all of their stock through new ordinary shares of NRAC, and the deal is anticipated to cost around $215 million. After the transaction, they will hold around 65% of the merged public firm.

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