wavemaker partners
The model unveiled Tuesday is a beta version of the robot. A spokesperson said a Carry 2.0 will launch in the next couple months for commercial purchase. It's designed for small- to medium-sized farms across the country.
The news comes as the company launches a crowdfunding campaign for $3 million. It's already backed by Wavemaker Partners, a Los Angeles firm that also operates the robots and automation-centered venture studio Wavemaker Labs.
Future Acres designed their new robot, Carry, to lug boxes of produce from the fields to the sorting departments.
The Food And Agricultural Policy Research Institute estimates farm income will drop 12% in 2021 while product costs climb - largely due to the cost of labor. California is the nation's largest produce producer and relies heavily on immigrant labor. Any large-scale introduction of robots on farms could change big agriculture, much in the same way robots altered car factories.
The company says adding just one robot can increase efficiency by 30%. And it pays itself off in just 80 days.
As the agricultural industry battles financial and environmental challenges, CEO Suma Reddy says her tech will ease the physical loads that slow down many farmers. "Back pain, twisted ankles and shoulder injuries no longer need to be the normal," Reddy said in a statement.
The robotics startup also says down the line it'll turn to other tech-driven solutions to measure pesticide use and crop health and track trends like food waste.
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The company provides a web-based platform for school districts to understand student eligibility, food costs and inventory. Parents can see information on school meal planning and control for food allergies.
The deal with LINQ, which develops software to help K-12 school districts in finance, HR and nutrition, student registration and other areas, took months to evolve during the pandemic due to uncertainty in the market, said Cie CEO and co-founder Anderee Berengian.
LINQ CEO Krista Endsley sad in a statement that "acquiring TITAN is an excellent opportunity to deliver K-12 school districts the innovative software solutions they need today and accelerate our growth into the future."
TITAN raised a $5.2 million series A nearly two years ago, in a round led by Santa Monica, Calif. VC firm Wavemaker Partners and Cie, an Irvine-baed venture studio.
Cie announced the exit on Tuesday, touting their ability to help TITAN grow since it joined the studio in 2017.
TITAN will become part of LINQ's school nutrition business and Blankenship will become president of LINQ's school nutrition division, Berengian said.