A South San Francisco startup that's developing "farming-as-a-service" software has raised another round of seed funding since it announced a $5 million raise at the beginning of the year.
Agtonomy has now raised $13.5 million after closing its third seed round, according to a press release. The latest funding round was led by Cavallo Ventures and Mirae Asset Venture Investment and also included Toyota Ventures and Silver Oak Cellars CEO David R. Duncan.
"Agtonomy is on a mission to close the labor gap being experienced by many in the farming community. Farmers face tremendous challenges in a time where skilled labor shortages are contributing to high food prices… We are thrilled to grow our network of support around Agtonomy and accelerate our impact on the global food chain through this latest round of funding," CEO Tim Bucher said in a statement.
Bucher co-founded the company in 2020 to help small farmers increase their capabilities by converting farm equipment like tractors into autonomous vehicles.
To do this, it develops software that's combined with sensors and cameras on the vehicle which allow it to be operated remotely. Lidar can be used but usually isn't necessary, Bucher told me in January.
The company is also working with farming equipment manufacturers to design electric tractors.
Eventually, Bucher envisions providing a full suite of products and services for what he calls "farming-as-a-service."
"We’re not replacing labor or eliminating jobs. We’re making local farming work better to keep everyone in business and operate in a more sustainable way," Bucher wrote last year in a blog post on Medium.
The number of agricultural workers in the U.S. has significantly declined since the 1950s, according to the USDA. Self-employed and family farmworkers dropped 74% from 1950 to 1990. Hired farmworkers have dropped 51% over the same period and their numbers have remained relatively flat at about 2 million people since 1985.
Other Bay Area companies that are developing software or hardware for autonomous farming vehicles include Livermore-based Monarch Tractors, recent Y Combinator alum S.F.-based Polymath Robotics, Palo Alto-based Ztractor and Newark-based Bear Flag Robotics (acquired by John Deer in 2021 for $250 million).
