Key Takeaways
- AgTech Funding Update: Elicit Plant’s $48M Series B funding reflects growing interest in water-efficient solutions.
- Strategic acquisitions, like FarmQA’s purchase of Farm Dog, enhance digital agronomy.
- Partnerships with global leaders are paving the way for sustainable farming practices.
- Innovations like real-time nitrous oxide sensors offer actionable insights for better nitrogen management.
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Sponsored by Harnois Greenhouses, creators of the Vermax energy-efficient greenhouse solution.
This Week’s AgTech Funding Highlights
Elicit Plant Secures $48M in Series B Funding
- Purpose: Expansion in the U.S. Corn Belt, Europe, and Brazil.
- Innovation: Phytosterol-based solutions to reduce crop water use by 20%.
- Future Goals: Enhanced R&D for crop resilience.
- Partners: Bayer and BASF.
Klim Raises $22M in Series A
- Lead Investor: BNP Paribas, with contributions from Earthshot Ventures and Rabobank.
- Technology: Digital tools for regenerative agriculture.
- Impact: Over 700,000 hectares managed by 3,500 farmers.
NitroVolt Bags €3.5M for Green Ammonia Tech
- Product: “Nitrolyzer” converts air, water, and renewable energy into ammonia.
- Benefit: Cuts CO₂ emissions and reduces supply chain dependencies.
Unibaio Wins $1M Grow-NY Prize
- Technology: Enhances pesticide and fertilizer absorption, lowering environmental impact.
Key Acquisitions
Mucci Farms Acquires Greenhill Produce
- Details: Adds a 150-acre greenhouse specializing in bell peppers, bringing total operations to 650+ acres.
- Impact: Strengthens Mucci Farms’ automation and robotics integration.
FarmQA Acquires Farm Dog
- Purpose: Enhancing agronomic insights for supply chain transparency.
- Strategic Impact: Builds on FarmQA’s rapid acreage growth since 2021.
This Week’s Partnerships
McDonald’s Teams Up for Beef Sustainability
- Goal: Reduce CO₂e emissions by 164,000 metric tons annually.
- Partners: Lopez Foods and Syngenta.
Fieldwork Robotics & Burro Collaborate on Harvesting
- Innovation: Raspberry harvesting robots designed to alleviate labor shortages.
Planet Labs & Abelio Expand Partnership
- Scope: Boosts precision agriculture through advanced nitrogen management data.
xFarm Technologies Joins Forces with UNIA
- Objective: Driving Agriculture 4.0 through SaaS-integrated machinery.
Agtech Update: Product Launches
Agrology Introduces Real-Time Nitrous Oxide Sensor
- Purpose: Precise nitrogen management for diverse crop systems.
- Status: Undergoing validation with industry experts.
Topcon Agriculture Debuts TMR Flex Pro
- Feature: Modular feed management system for dairy and beef operations.
Additional AgTech Updates This Week
- Gene-Edited Microbes: Highlighted as synthetic fertilizer alternatives.
- Syngenta’s R&D Investment: CHF 40M modernization in Switzerland.
- Bayer Crop Science: Q3 sales dip offset by fungicide and insecticide growth.
- CRISPR Innovations: Agricultural patents saw a 58% surge in 2022.
Upcoming AgTech Events
- Asia-Pacific Agri-Food Innovation Summit | November 19-21, 2024
- XPANSE | November 22, 2024 | Abu Dhabi, UAE
- Indoor Ag Con | March 11–12, 2025 | Las Vegas, USA
- Discover other events here.
Stay tuned for next week’s AgTech update.
