Monarch Tractor, Carbon Robotics, Pyka, Bluewhite, Bowery Farming, Plenty Unlimited, Mawarid Holding , Dubai GigaFarm, Empire State Greenhouses, IGS, BrightFarms, Mucci Farms, NEOM Greenhouse, Gotham Greens, Sound Agriculture, Inari, InnerPlant- This Week in AgTech

Anna: 00:00

Welcome to the final episode of the year for AgTech Digest, your go-to source for the latest in agricultural innovation, where we celebrate the incredible strides in agricultural innovation from 2024! This year, we witnessed record-breaking funding driving advancements in robotics, automation, and precision farming, addressing challenges like labor shortages and sustainability. From laser-equipped weeders and autonomous tractors to electric aviation solutions, the future of farming is smarter and more efficient than ever. Vertical farming soared with massive investments, scaling sustainable food production globally, while breakthroughs in plant science and gene editing introduced stress-detecting crops and climate-resilient traits. Soil intelligence also took center stage with cutting-edge technologies enhancing soil health and fertility. As we look ahead, these transformative developments promise a brighter, more sustainable future for agriculture. Let’s dive into this year’s highlights!

Anna: 01:03

Precision agriculture made remarkable strides, marked by groundbreaking advancements in robotics and automation, all fueled by significant funding rounds. Monarch Tractor set a new benchmark by raising $133M in Series C funding—the largest in agricultural robotics history. With support from Astanor and HH-CTBC Partnership, Monarch expanded the global reach of its AI-driven MK-V, an electric, autonomous smart tractor. This innovation targeted specialty crops like orchards and vineyards, addressing critical challenges such as farm profitability, labor shortages, and sustainability via automation & AI. Meanwhile, Carbon Robotics achieved a milestone with seventy million dollars in Series D funding, bringing its total to $157M. Supported by BOND, NVentures, and Anthos Capital, the company scaled its LaserWeeder, a cutting-edge technology that eliminated weeds using lasers without chemicals or soil disruption. Furthermore, with new manufacturing facilities in Eastern Washington, Carbon Robotics prepared for expansion into Europe and the Asia-Pacific regions. In addition, Pyka, a pioneer in electric aviation for agriculture, cargo, and defense, successfully closed a forty million dollarsSeries B round led by Obvious Ventures. Its autonomous electric aircraft, including the Pelican Spray and Cargo models, attracted notable clients such as Dole, Embraer, and the U.S. Air Force. To meet increasing demand, Pyka focused on scaling its U.S. manufacturing operations. Lastly, Bluewhite secured thirty nine million dollars in Series C funding, led by Insight Partners, to advance its autonomous tractor solutions through a Robot-as-a-Service (RaaS) model. With the autonomous farming market projected to grow to eleven point five billion dollars by 2030, Bluewhite expanded its solutions globally, achieving strong adoption in the U.S. Together, these advancements demonstrated the transformative potential of precision agriculture in reshaping the future of farming.

Anna: 03:10

Vertical farming experienced significant advancements in 2024, with several key developments and investments shaping the landscape. Firstly, Bowery Farming, founded in 2015, focused on indoor vertical farming, achieving 90% water savings and eliminating pesticides. Its platform, BoweryOS, standardized growth processes and optimized yields, helping the company expand its retail partnerships to over 2600 locations, including Whole Foods, Amazon Fresh, and Albertsons. However, despite these achievements, Bowery Farming ultimately ceased operations, marking a significant shift in its trajectory. In addition, GrowUp, a UK-based vertical farming company, raised thirty eight million pounds from Generate Capital, bringing its total funding to fifty eight million pounds. With a 1,000 acre facility in Kent, GrowUp became the first vertical farm in the UK to supply bagged salads to supermarkets under brands like Unbeleafable and Fresh Leaf Co., focusing on ready-to-eat salads. Meanwhile, Plenty Unlimited, in partnership with Mawarid Holding, launched a vertical strawberry farm project worth AED500M in Abu Dhabi. The farm aimed to produce over two million kilograms of strawberries annually. Additionally, a broader plan to build five more farms across the GCC region was supported by a total investment of AED two point five billion. Driscoll’s pre-committed to purchasing the entire output of this venture. Furthermore, in the UAE, the Dubai GigaFarm, led by ReFarm Global and Intelligent Growth Solutions, marked a major step towards enhancing food security and sustainability. The 900,000 square foot farm was projected to produce over three million kilograms of food annually, with a focus on decarbonization and reducing waste by 50,000 tonnes. Production was set to begin in 2025, with backing from the UK government. Lastly, Empire State Greenhouses, in collaboration with IGS, was building a 385,000 square foot carbon-negative GigaFarm in New York. The project aimed to produce over eight million pounds of produce annually, utilizing 100 IGS Growth Towers and renewable energy systems. This initiative was designed to achieve 98% water efficiency and operate under a circular Food-Energy-Waste model, further contributing to the movement towards sustainable and efficient agricultural practices.

Anna: 05:39

Greenhouse expansion and innovation made notable strides with several exciting updates in 2024. To start, BrightFarms opened its first greenhouse in Lorena, Texas, featuring the KUBO Ultra-Clima system designed for optimal growth conditions. With plans to expand its reach, the company aimed to distribute leafy greens to two-thirds of the U.S. population, further enhancing its impact under the parent company, Cox Farms. In addition, Mucci Farms, based in Canada, acquired Hacienda North Farms, spanning 159 acres in Ontario, bringing its total acreage to over 650 acres under Cox Farms. The company focused on high-yield, chemical-free produce and sustainability, contributing to the growing demand for eco-friendly farming methods. Meanwhile, in Saudi Arabia, the NEOM greenhouse project set out to produce fresh produce in arid regions. The project emphasized climate control, cooling technology, and crop trials, in partnership with Van der Hoeven, a leader in horticultural technology. Its primary goals included optimizing plant growth, enhancing energy efficiency, and bolstering local food security in a region where agriculture faces unique challenges. Furthermore, Gotham Greens launched a 210,000 square foot hydroponic greenhouse in Seagoville, Texas. The greenhouse demonstrated impressive sustainability, using 90% less water and 97% less land compared to traditional farming methods. In addition to its environmental impact, the facility introduced fresh salad kits and created over 100 full-time jobs. As part of its community efforts, Gotham Greens donated 40,000lbs of food in 2023 and formed partnerships with local non-profits. The company also received recognition as a Certified B Corporation and a Public Benefit Corporation, emphasizing its commitment to social and environmental responsibility.

Anna: 07:39

Agricultural innovation saw significant progress in funding and product expansion in 2024. To begin, Sound Agriculture raised twenty five million dollars in a Series D extension, led by BMO Impact Investment Fund and S2G Ventures. The company focused on nutrient efficiency solutions with its flagship products, SOURCE and BLUEPRINT, and launched the Efficient Acre program, offering up to $100 per acre in cashback for nutrient optimization. The goal was to drive profitability while offering sustainable crop solutions to improve yields.Meanwhile, Inari secured $103M, bringing its total funding to $575M, to expand its AI-powered crop science technologies. The company aimed to further develop its tech to support sustainable agriculture growth, positioning itself as a leader in the future of farming. Additionally, InnerPlant raised thirty million dollars in Series B funding, led by farmers, Deere & Company, and Bison Ventures. The company focused on genetically engineered plants that emit optical signals when under stress. Its pilot project, InnerSoy, helped detect fungal pressure, in partnership with GROWMARK in Illinois. This innovative approach allowed for early stress detection, significantly improving agricultural GDP and crop management by addressing challenges before they impacted yields.

Anna: 09:03

Crop protection and sustainability made notable strides in funding and partnerships throughout 2024. First, AgroSpheres partnered with BASF to develop a bioinsecticide using AgriCell-powered biomolecules, which proved effective at low doses against lepidopteran pests. The partnership secured thirty seven million dollars in Series B funding, led by Zebra Impact Ventures. Their focus was to scale operations, expand markets, and enhance the AgriCell platform's R&D. In addition, Syngenta collaborated with Enko to develop new herbicides targeting tough weeds such as Palmer amaranth, waterhemp, blackgrass, and Italian ryegrass. Their strategy, “Safer by Design,” aimed to improve yields with minimal environmental impact. Utilizing the ENKOMPASS platform, they focused on accelerating the discovery of safe, effective solutions for farmers. Furthermore, Elicit Plant raised forty eight million dollars in Series B funding to expand globally, with a primary focus on the U.S. Corn Belt. The company developed phytosterol-based solutions to reduce crop water use by 20%. Partners such as Bayer and BASF supported their efforts, and the company planned to bolster its R&D for crop resilience with expansion into Europe and Brazil. Lastly, Micropep Technologies secured eleven million dollars in a Series B extension, bringing its total funding to over sixty million dollars. The company innovated with micropeptide solutions through its Krisalix platform. With Corteva Inc. as a key investor, Micropep focused on expanding its biofungicide pipeline, completing regulatory studies, and accelerating its go-to-market strategy.

Anna: 10:46

Gene editing and agricultural biotech saw significant funding and acquisitions in 2024. To begin, Pairwise raised forty million dollars in Series C funding, led by Deerfield Management and Corteva Inc. The company focused on gene editing for both specialty and commodity crops, such as seedless berries and pitless cherries. Pairwise used its Fulcrum platform to advance crop resilience and develop desirable traits, like compactness and thornlessness. Additionally, Pairwise entered a five-year joint venture with Corteva to develop climate-resilient crops. Meanwhile, Solis Agrosciences acquired Ferris Genomics' sequencing and bioinformatics platform, which provided new tools for whole-genome sequencing, skim sequencing, and genomic breeding. This acquisition enhanced Solis’ plant and animal breeding insights and aligned well with their genome editing platforms. In another development, GeneNeer raised one million dollars in a seed round to fund its work on superlines and tissue-specific silencing for faster, safer breeding. The company initially focused on the potato market, with plans to expand into other crops. GeneNeer’s valuation doubled in 2023, and they filed patents while conducting proof of concept trials to advance their technology.

Anna: 12:04

Soil intelligence and sustainable agriculture experienced key updates in 2024. To begin, EarthOptics and Pattern Ag merged with the goal of revolutionizing soil intelligence by combining lab-based and field-based analysis. They developed high-resolution digital twins of soil, which tracked pests, nutrients, biofertility, carbon, and moisture. This technology enhanced predictive insights for soil health and facilitated more informed decision-making. In another development, Trace Genomics raised ten point five million dollars in Series B funding, led by S2G Ventures, Ajax Strategies, and Rabo Ventures. The company focused on DNA-based soil health analysis, offering disease detection, soil fertility assessments, and crop health insights. Furthermore, Trace Genomics expanded its team, bringing on Adam Burnhams as the new Chief Marketing Officer and Tim Yandel as the Chief Revenue Officer for growth plans in 2024 to 2025. Additionally, Biome Makers partnered to promote sustainable sugarcane production. They used their BeCrop technology, which combines DNA sequencing and AI to analyze soil microbiomes. The focus was on microbial fertilizers, biological pest control, and water efficiency. Biome Makers also created a vast database, cataloging over twenty four million microorganisms, making it the largest AI-powered soil resource available.

Anna: 13:33

Looking ahead to upcoming industry events, mark your calendars for the 2nd International Conference on CEA on February 25, 2025, in Plymouth, UK. Following that, World Agri-Tech San Francisco 2025 will bring global leaders in agri-tech together. Lastly, don’t miss Indoor Ag Con on March 11 to 12, 2025, in Las Vegas, USA.

Anna: 13:56

That wraps up today's episode of Agtech Digest. We explored the latest developments in agricultural technology, from cutting-edge precision ag tools and vertical farming innovations to groundbreaking advances in soil intelligence and crop protection. With major funding rounds and strategic partnerships across the sector, it's clear that 2024 has been a year of significant progress in sustainability and technological growth. As we look ahead to 2025, the future of agriculture continues to evolve with smarter, more sustainable solutions. Thanks for following along throughout 2024, I'm Anna, signing off. Stay inspired and keep pushing the boundaries of what's possible!