Arable, a San Francisco- based leader in field intelligence for agriculture, has announced it has raised $40 million in series C financing.
The round was led by Galvanize Climate Solutions, with participation from Qualcomm Ventures. Also joining the round are Arable’s existing investors, including Prelude Ventures, S2G Ventures, Ajax Strategies, Grupo Jacto, Middleland Capital, M2O, and iSelect. In connection with their investment, Saloni Multani, partner at Galvanize Climate Solutions, joined Arable’s board.
The company will use the new funding to advance climate resilience in agriculture by accelerating product development, delivering new services for customers, and expanding its global footprint.
Company: Arable Labs, Inc.
Raised: $40.0M
Round: Series C
Funding Month: July 2022
Lead Investors: Galvanize Climate Solutions
Additional Investors: Qualcomm Ventures, Prelude Ventures, S2G Ventures, Ajax Strategies, Grupo Jacto, Middleland Capital, M2O, and iSelect. In connection with their investment, Saloni Multani.
Company Website: https://www.arable.com/
Software Category: IoT-enabled SaaS Agritech
About the Company: 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 regional level, which helps to reduce risk, improve productivity, and optimize for sustainability.
Arable continues to receive several recognitions, including the 2021 AgTech Breakthrough IoT Solution of the Year, THRIVE’s Top 50 Companies for 2020, Plug & Play’s Top 10 Ag Tech Companies to Watch in 2019, and the Irrigation Association’s Best New Product of 2018. Based in San Francisco, the Arable team is led by former Climate Corporation executive Jim Ethington, and brings a diverse set of experience across crop modeling, IoT, data science, software engineering, and farm management.
Source: https://www.arable.com/press-releases/arable-raises-40-million-to-accelerate-sustainable-agriculture/
https://www.finsmes.com/2022/07/arable-raises-40m-in-series-c-funding.html