Predictive Analytics Company Resson Announces US$14M Series C

May 10, 2018

New Brunswick, Canada-based predictive analytics company Resson has announced$14 million Series C round of financing led by the world’s largest selling tractor company Mahindra & Mahindra, joining existing strategic partners McCain Foods and Monsanto Growth Ventures. Existing investors Build Ventures, Rho Canada, BDC Capital, East Valley Ventures, and the New Brunswick Innovation Foundation also participated.

Using tractor and drone-mounted cameras, Resson applies machine learning, big data analytics, and computer vision to help growers of crops like potatoes, spinach, and grapes make better-informed decisions about crop management to increase productivity on their farms. The company is currently working in partnership with McCain Foods to test its technology in real life commercial potato farming environments.

“Our strategic partners have been critical to the development of our technology and our rapid growth over the last two years,” said Jeff Grammer, CEO of Resson. “With the addition of Mahindra & Mahindra, we will expand our understanding of predictive analytics to maximize yields and profits for growers.”

Big Data, Machine Learning and AI Attracting Investments

Farming, food production, and moving product along the supply chain  creates huge amounts of data and a number of data-related startups are attracting investments. At AgTech Nexus in Dublin, PitchBook, and Finistere shared the numbers — 2017 was a record investment year for the sector, with more than $1.5 billion deployed encompassing more than 300 distinct investors and 160+ deals.

An in 2018, recent deals have included agricultural sensing and solutions startup AgNext securing an undisclosed amount of seed funding from Mumbai-based Impact Investor Omnivore Partners; the A$500,000 raised by Adelaide-based startup T-Provenance to help pilot its blockchain technology with Northern Australian mango producers; New Zealand-based agricultural IoT company CropLogic acquiring Tasmanian precision agriculture and monitoring firm Ag Logic Pty Ltd.; and AI-powered San Francisco Bay area “micro-grocer” Farmstead has secured a $2 million capital infusion.

By David Nitchman, GAI Media

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