Looking Back At 2024

🔎 2024 AgTech Year in Review

As the year comes to a close, this final edition of 2024 provides an overview of key developments and investments across the agricultural technology sector. From advancements in precision ag, vertical farming, greenhouses, plant science, crop protection, genomics, and soil intelligence, the industry has seen continued focus on automation, sustainability, and efficiency.

This issue highlights significant funding rounds, strategic partnerships, and technological innovations that have shaped the landscape of agricultural technology over the past year.

This Week’s Highlights Include:

1. Agricultural Robotics & Automation – Key Funding Highlights

2. 🌱 Vertical Farming Key Developments In 2024

3. 🌾 Greenhouse Expansion & Innovation – Key Updates

4. 🌱 Agricultural Innovation – Funding and Product Expansion

5. 🌍 Crop Protection & Sustainability – Funding and Partnerships

6. 🧬 Gene Editing & Agricultural Biotech – Key Funding and Acquisitions

7. 🌾 Soil Intelligence & Sustainable Agriculture – Key Updates

8. Upcoming AgTech Events, Conferences & Webinars

Estimated Reading Time: 6 - 7 minutes

🙏 Thank You For An Incredible 2024!

We’re incredibly grateful for your support and engagement throughout the year. In 2024, our community grew by 3,000 new subscribers, bringing us to new heights with an average open rate of 57%. Your continued interest and feedback have made this newsletter what it is today.

As we wrap up the year, we’re excited to share that big news is on the horizon – stay tuned for exciting updates coming in the first few weeks of 2025. Thank you for being part of this journey, and we look forward to continuing to grow with you next year!

PRECISION AG
🚜 Agricultural Robotics & Automation – Key Funding Highlights

1. Monarch Tractor

• Raised: $133M (Series C) – Largest in ag robotics history.

• Lead Investors: Astanor & HH-CTBC Partnership.

• Focus: AI-driven farming tech, global expansion of MK-V (electric, autonomous smart tractor).

• Target Crops: Specialty – orchards, vineyards.

• Goal: Address farm profitability, labor shortages, sustainability via automation & AI.

2. Carbon Robotics

• Raised: $70M (Series D) – Total funding: $157M.

• Lead Investor: BOND, with NVentures, Anthos Capital & more.

• Flagship Product: LaserWeeder™ – eliminates weeds without chemicals or soil disruption.

• Expansion: Manufacturing in Eastern WA, targeting Europe & Asia-Pacific.

3. Pyka (Electric Aviation in AgTech)

• Raised: $40M (Series B) – Led by Obvious Ventures.

• Specialty: Autonomous electric aircraft for ag, cargo & defense.

• Key Clients: Dole, Embraer, U.S. Air Force (Agility Prime).

• Growth Focus: U.S. manufacturing & Pelican Spray/Cargo production.

4. Bluewhite

• Raised: $39M (Series C).

• Lead Investor: Insight Partners.

• Focus: Autonomous tractor solutions via Robot-as-a-Service (RaaS).

• Market Outlook: $11.5B by 2030.

• Global Reach: Scaling autonomous farming globally, strong U.S. adoption.

VERTICAL FARMING
🌱 Vertical Farming Key Developments In 2024

1. Bowery Farming

• Founded: 2015 – Focus on indoor vertical farming.

• Impact: 90% less water, no pesticides.

• Platform: BoweryOS – standardizes growth, optimizes yield.

• Retail Partners: Whole Foods, Amazon Fresh, Albertsons – 2,600+ locations.

• Challenges: Ceases Operations.

2. GrowUp (UK)

• Investment: £38M from Generate Capital (Total: £58M).

• Facility: 1,000 acres of vertical farm capacity in Kent.

• Focus: RTE salads – brands Unbeleafable & Fresh Leaf Co.

• Impact: UK’s first vertical farm to supply bagged salads to supermarkets.

3. Plenty Unlimited x Mawarid Holding (GCC)

• Project: AED500M (US$130M) vertical strawberry farm in Abu Dhabi.

• Output: 2M+ kg of strawberries annually.

• Expansion: 5 farms planned across GCC (AED2.5B total investment).

• Partnership: Driscoll’s pre-commits to entire output.

4. Dubai GigaFarm (UAE)

• Lead: ReFarm Global & Intelligent Growth Solutions.

• Scale: 900,000 sq. ft. – 3M+ kg food/year.

• Focus: Food security, decarbonization, waste reduction (50,000 tonnes).

• Production Start: 2025 – Supported by UK government.

5. Empire State Greenhouses x IGS (New York)

• Project: 385,000 sq. ft. carbon-negative GigaFarm.

• Tech: 100 IGS Growth Towers, renewable energy systems.

• Output: 8M+ lbs of produce annually.

• Sustainability: 98% water efficiency, circular Food-Energy-Waste model.

GREENHOUSES
🌾 Greenhouse Expansion & Innovation – Key Updates

1. BrightFarms (Texas)

• Opened: First Texas greenhouse (Lorena, TX).

• Tech: KUBO Ultra-Clima system for optimal growth.

• Expansion Plan: Leafy greens to reach ⅔ of US population.

• Parent Company: Cox Farms (Cox Enterprises).

2. Mucci Farms (Canada)

• Acquired: Hacienda North Farms (159 acres, Ontario).

• Total Acreage: 650+ acres under Cox Farms.

• Focus: High-yield, chemical-free produce, sustainability.

3. NEOM Greenhouse (Saudi Arabia)

• Objective: Fresh produce in arid regions.

• Focus: Climate control, cooling tech, crop trials.

• Partners: Van der Hoeven (horticultural tech).

• Goal: Optimize plant growth, energy efficiency, local food security.

4. Gotham Greens (Texas)

• Launched: Seagoville, TX – 210,000 sq. ft. hydroponic greenhouse.

• Impact: 90% less water, 97% less land vs. traditional farming.

• New Products: Fresh salad kits.

• Jobs: 100+ full-time positions.

• Community: 40,000 lbs of food donated (2023), local non-profit partnerships.

• Certification: Certified B Corporation™, Public Benefit Corporation.

PLANT SCIENCE
🌱 Agricultural Innovation – Funding and Product Expansion

1. Sound Agriculture

• Raised: $25M Series D extension (Led by BMO Impact Investment Fund, S2G Ventures).

• Focus: Nutrient efficiency solutions – SOURCE® and BLUEPRINT™.

• Program: Efficient Acre – Up to $100/acre cashback for nutrient optimization.

• Goal: Profitability, sustainable crop solutions for improved yields.

2. Inari

• Raised: $103M (Total: $575M).

• Focus: AI-powered crop science.

• Goal: Expand tech development, drive sustainable agriculture growth.

3. InnerPlant

• Raised: $30M Series B (Led by farmers, Deere & Company, Bison Ventures).

• Tech: Genetically engineered plants emit optical signals under stress.

• Pilot: InnerSoy – signals fungal pressure (partnered with GROWMARK in Illinois).

• Impact: Early stress detection, boosting agricultural GDP and crop management.

CROP PROTECTION
🌍 Crop Protection & Sustainability – Funding and Partnerships

1. AgroSpheres x BASF

• Partnership: Developing a bioinsecticide using AgriCell-powered biomolecules.

• Efficacy: Effective at low doses against lepidopteran pests.

• Funding: $37M Series B led by Zebra Impact Ventures.

• Focus: Scale operations, expand markets, enhance AgriCell platform R&D.

2. Syngenta x Enko

• Objective: New herbicides targeting Palmer amaranth, waterhemp, blackgrass, & Italian ryegrass.

• Strategy: "Safer by Design" to improve yields with minimal environmental impact.

• Platform: ENKOMPASS for faster discovery of safe solutions.

3. Elicit Plant

• Funding: $48M Series B for global expansion, focusing on U.S. Corn Belt.

• Technology: Phytosterol-based solutions – reduce crop water use by 20%.

• Partners: Bayer, BASF.

• Expansion: Europe, Brazil – bolstering R&D for crop resilience.

4. Micropep Technologies

• Funding: $11M Series B extension – Total funding over $60M.

• Innovation: Micropeptide solutions via Krisalix™ platform.

• Partner: Corteva Inc. investing in biofungicide and pipeline expansion.

• Focus: Complete regulatory studies, accelerate go-to-market strategy.

CROP GENOMICS
🧬 Gene Editing & Agricultural Biotech – Key Funding and Acquisitions

1. Pairwise

• Raised: $40M Series C (Led by Deerfield Management, Corteva Inc.).

• Focus: Gene editing for specialty & commodity crops (seedless berries, pitless cherries).

• Platform: Fulcrum™ – advancing crop resilience and desirable traits (compact, thornless).

• Partnership: 5-year joint venture with Corteva for climate-resilient crops.

2. Solis Agrosciences

• Acquired: Ferris Genomics' sequencing & bioinformatics platform.

• Tech: Whole-genome sequencing, skim sequencing, genomic breeding tools.

• Impact: Enhances plant/animal breeding insights, aligns with Solis' genome editing platforms.

3. GeneNeer Ltd.

• Raised: $1M seed round.

• Tech: Superlines & tissue-specific silencing for faster, safer breeding.

• Focus: Potato market, expanding to other crops.

• Growth: Valuation doubled in 2023 – patent filing, proof of concept trials.

SOIL
🌾 Soil Intelligence & Sustainable Agriculture – Key Updates

1. EarthOptics x Pattern Ag (Merger)

• Goal: Revolutionize soil intelligence by combining lab & field-based analysis.

• Tech: High-resolution digital twin of soil – tracks pests, nutrients, biofertility, carbon, moisture.

• Impact: Enhanced predictive insights for soil health & informed decision-making.

2. Trace Genomics

• Raised: $10.5M Series B (Led by S2G Ventures, Ajax Strategies, Rabo Ventures).

• Focus: DNA-based soil health analysis – disease detection, soil fertility, crop health insights.

• Expansion: New CMO (Adam Burnhams) & CRO (Tim Yandel) for 2024-25 growth.

3. Biome Makers

• Partnership: Promoting sustainable sugarcane production.

• Tech: BeCrop – DNA sequencing & AI to analyze soil microbiomes.

• Focus: Microbial fertilizers, biological pest control, water efficiency.

• Impact: 24M+ microorganisms in soil database – largest AI-powered soil resource.

UPCOMING EVENTS
Discover The Following Events

2nd International Conference on CEA | Feb 25, 2025 | Plymouth, UK

World Agri-Tech San Francisco 2025

Indoor Ag Con | March 11 – 12, 2025 | Las Vegas, USA