Bear Flag Robotics Raises $7.9 Million Seed Extension Round Led by True Ventures
Bear Flag Robotics has announced a $7.9 million seed extension funding round led by True Ventures. The Silicon Valley-based agtech company is developing autonomous technology for farm tractors, which enables growers to increase productivity and improve safety on their farms. True Ventures led the round with participation from Graphene Ventures, AgFunder, D20, and Green Cow VC. Including this round of funding, the company has raised $12.5 million total since Bear Flag Co-Founders Igino Cafiero and Aubrey Donnellan founded the company in 2017.
Today’s growers are faced with the difficult proposition of increasing productivity with continuously rising costs and limited resources. The farm labor pool is disappearing and increasing in cost, 10 percent year over year. Climate change is forcing growers to consolidate operations into shorter weather windows. Safety is also a pressing concern; tractor overturns and transportation incidents are the leading cause of death on U.S. farms. Bear Flag Robotics is helping growers overcome these challenges rapidly and increase reliability and uptime on their farms.
“I absolutely love this team and their mission, but when their customers told us how much they loved their Bear Flag tractors, and how farmers from the region would see it in the field and come pay a visit, we knew that this was a special company,” said AgFunder partner, Rob Leclerc, “Bear Flag has the potential to be one of the most important companies in agriculture over the next decade.”
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