South San Francisco, California based agrotech company, Agtonomy has raised an additional $10 million to complete its Series A funding round, bringing the total investment to $32.8 million. This funding aims to accelerate the company’s automation initiatives in agriculture and facilitate expansion into autonomous industrial equipment markets.
The latest round was led by Autotech Ventures, a prominent mobility venture fund, and welcomed new investors including Rethink Food, Allison Transmission, and Black Forest Ventures. Existing investors such as Toyota Ventures, Flybridge, and Cavallo Partners also reaffirmed their support.
This funding marks a pivotal moment in Agtonomy’s mission to tackle labor shortages and climate change challenges through advanced automation for industrial equipment fleet management.
“Agtonomy’s innovative approach aligns with our mission to revolutionize mobility and automation across various sectors, starting with off-road autonomy. Their unique business model, which combines software expertise with established OEM partnerships, positions them to lead the transformation to autonomous fleet management,” said Alexei Andreev, founding partner of Autotech Ventures. He added, “We look forward to supporting Agtonomy’s experienced team as they address critical labor shortages and sustainability challenges in these industries.”
Expansion of Pilot Programs
Agtonomy’s immediate growth plans include scaling its West Coast technical team and expanding its 2025 paid pilot program for permanent crops by 500 percent. The company is also focused on developing technological solutions for other industrial markets that seek world-class automation to improve operational margins.
“The impact Autotech has already had on our business is expansive. We could not have had a better lead investor in this round than this talented group who have focused on the world of mobility since their inception.”
Notable Board Appointment
In a strategic move to bolster its leadership, Agtonomy announced that Sterling Anderson, a well-known figure in Silicon Valley who led the team that developed the original Tesla Autopilot and co-founded Aurora, will join Agtonomy’s Board of Directors. Anderson expressed his optimism about the potential of autonomy in agriculture, stating, “Agriculture is a vast and essential element of the human experience. Autonomy can make it better. I’ve been impressed with Agtonomy’s approach, focus, and execution to date and look forward to advising them on this important journey.”
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In addition to Anderson, Agtonomy previously announced the appointment of Jorge Heraud, formerly John Deere’s vice president of automation & autonomy, to the Board. The current Board includes co-founders Tim Bucher and Valerie Syme, along with Jim Meyer, former CEO of SiriusXM and current Vice Chair.
Valerie Syme highlighted the strength of the Board, stating, “By bringing together some of the most impactful technology leaders, our Board is enabling additional firepower in corporate strategy and governance to bring Agtonomy to its full potential.”
This funding round and the strategic additions to the Board underscore Agtonomy’s commitment to advancing automation in agriculture, with the goal of improving operational efficiency and addressing critical challenges in the sector.