Editor’s note: Agtech Seedlings is a weekly roundup of the latest in agriculture technology news, digging into venture funding, product announcements and other innovation milestones. Have news to share? Email us here.
Agco seals joint venture deal with Trimble
Agco Corporation and Trimble have closed their joint venture transaction, the companies said Monday.
The deal, known as PTx Trimble, combines Trimble’s precision agriculture business and Agco’s JCA Technologies, a developer of software used to automate and control farm equipment.
This partnership will enable Agco to develop a leading mixed-fleet precision ag platform to serve farmers globally. As part of the joint venture, Agco has acquired an 85% stake in PTx Trimble, while Trimble will hold a 15% stake.
“By combining our expertise and resources through this JV, we aim to accelerate the pace of innovation,” Rob Painter, Trimble's President and CEO, said in a statement. “With a focus on open technologies, customers will benefit from tech solutions available to farmers across a broad range of tractor and implement brands.”
Seso raises $26 million Series B funding for agricultural HR platform
Seso closed a $26 million round of Series B funding led by Bond with participation from venture capital firms and other prominent investors, the San Francisco startup said Tuesday.
The workforce management company will use the funds for an expansion of its platform, with plans to add cutting-edge payroll, banking and remittance services, as well as a comprehensive HR platform for agribusiness employees.
“Any farmer in America will tell you that the biggest risk to their business is labor,” Michael Guirguis, Seso’s co-founder and CEO, said in a statement. “We are building the industry’s first digital system of record for farmers to hire and manage a seasonal workforce while remaining compliant with government regulations.”
Edible Garden brings potted herbs in-house
Edible Garden, an indoor farming company, is shifting production of its potted herbs from contract growers to in-house production to lower costs and enhance margins.
As part of this effort, Edible Garden is able to ship its organic potted herbs produced at its Grand Rapids, Michigan facility to major distribution partners in the Midwest, CEO Jim Kras said in a statement.
“Since acquiring Edible Garden Heartland, we have integrated cutting-edge technologies [and] …completed installation of several high-speed packing lines at the facility,” Kras said.
These faster speeds have translated to higher capacity, allowing Edible Green to shift away from contract growers to in-house production of potted herbs.
“We believe this vertical integration illustrates our commitment to maximizing the operating efficiency of our facilities as we forge ahead toward our goal of profitability,” Kras said.
