Verge, a Lethbridge, AB, Canada-based developer of AI-powered interactive software that enables farmers to plan, simulate, and validate the movement of equipment in the field and execute field operations efficiently, raised $7.5 million in Series A funding.
The round was led by Yamaha Motor Ventures, the strategic business development and investment arm of Yamaha Motor Co., Ltd. (Tokyo: 7272), with participation from the Fall Line Capital, SP Ventures & Artesian/GrainInnovate.
The company intends to use the funds to expand operations and its business reach and development efforts.
Company: Verge Technology Holdings Inc.
Raised: $7.5M
Round: Series A
Funding Month: Series A
Lead Investors: Yamaha Motor Ventures
Additional Investors: Fall Line Capital, SP Ventures & Artesian/GrainInnovate
Company Website: https://vergeag.com/
Software Category: Farm Management Software
About the Company: Led by Ryan Johnson, CEO, Verge is accelerating the necessary transition to autonomous farming with Launch Pad, an AI-powered interactive software platform for farm operations planning providing growers with the ability to remotely plan and optimize the movement of farm equipment to increase profitability through direct expense reduction (fuel, chemical, and machinery hours), improved fleet optimization, and increased operational efficiencies. The system provides farmers with a planning experience with a data framework that fosters innovative data reuse, integration, and visualization to enable digital characterization of fields, terrain, water flow, and operational windows. Launch Pad has activations in North America, Latin America, CIS, and Australia, with growers of broadacre row crops.
Source: https://www.finsmes.com/2022/05/verge-raises-7-5m-in-series-a-funding.html