– USA, CA – Arable, the pioneer in data solutions for agriculture, has just successfully closed a $20M Series B funding round led by Prelude Ventures alongside new investors M2O, AVG’s Nassau Street Ventures, and Tridon, as well as existing investors S2G Ventures, Middleland Capital, Ajax Strategies, and Chase Field.
The financing will help digitize and optimize decisions from seed breeding to food production.
Concurrent with the financing, Mark Cupta, Managing Director at Prelude Ventures, is joining the board.
“What initially drew us to Arable is their unique approach to improving agriculture and ecosystem resource management through data,” said Mark Cupta, Managing Director at Prelude Ventures. “We seek out companies who are making real change in the world, who don’t flinch in the face of our most fundamental challenges. Arable is following through on their promise by making agricultural data reliable, accessible, and—maybe most important—useful to people who are trying to feed the world in a way that is compatible with our planet’s systems. This is foundational to building the low-carbon economy that we believe will shape the rest of this century.”
“We are at a crucial turning point not just for agriculture as an industry, but for the entire food system and the planet,” said CEO, Jim Ethington. “The challenge before us is how to increase agricultural productivity, efficiency, and sustainability at the same time. I firmly believe the most promising solution lies in using modern data technologies to better understand crop systems, empower growers, and optimize decisions. That’s why Arable’s work is so exciting: we are at the forefront of bringing new data and technology products to one of the core engines of human life, and these innovations will benefit the billions of people who work in agriculture, the food we all eat, and the future of our climate and planet.”
The company’s growth is fueled by partnerships with some of the largest and most advanced players in agriculture and food, ranging from crop input innovators like Bayer and BASF; to large consumer food companies such as Treasury Wine Estates; to cutting-edge startups like Planet and Terramera. This year, expansion has taken off in Brazil, where better crop and weather technology must also overcome connectivity challenges in the country’s vast agricultural regions. Tridon, the VC arm of the Brazilian agricultural equipment giant Grupo Jacto, is joining the round to bring this vision forward.
“Each of our investors shares with us a collective vision of empowering positive change through data, and we feel we have really hit our stride,” commented Founder & Chief Scientist, Adam Wolf. “This is a pivotal moment in our growth trajectory. We are reaching customers across so many channels—a mobile app, data exploration tools, and partner products via the API—and bring value to them in an incredible diversity of ways, fusing data from ground devices, weather forecasts, satellite data, and their own past performance. To accomplish this means really focusing on quality, accuracy, and intuitive design at every step. We are thrilled to see the recent success of this mindset in the market in 2020, and welcome such great new partners to the Arable journey.”
Arable helps the most innovative companies in agriculture to optimize decisions and understand crop outcomes through better data. The company’s integrated hardware, agronomic modeling, and software suite enables farmers, agronomists, researchers, processors, and food companies to understand the full crop system at the plant, field, and region level, which helps to reduce risk, improve productivity and optimize for sustainability.
The Arable team, led by former Climate Corporation executive Jim Ethington, brings a diverse set of experience across crop modeling, IoT, data science, software engineering, and farm management.
The company is based in San Francisco, CA, and has raised a total of $38M in funding from Prelude Ventures, S2G Ventures, Middleland Capital, Village Capital, iSelect, Nassau Street Ventures, Tridon, and the National Science Foundation.
For more information: https://www.arable.com/
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.