THANK YOU FOR SUBSCRIBING
Iron Ox, Silicon Valley-based developer of agricultural robotic technology, has raised $50 million in funding backed by Bill Gates’s Energy Venture
FREMONT CA : As California grapples with another critical draught, a silicon valley startup Iron Ox that believes robots can grow agricultural produce more sustainably, announced that it had raised $50 million in a funding round led by Bill Gates’s Breakthrough Energy Ventures.
The company develops robots integrated with hydroponic systems that consume 90% less water than traditional farming methodologies. Iron ox is setting of the system to work in 10000 square foot greenhouse in Gilroy, California. The company has developed a self-driving robot named Grover that moves palettes of Genovese basil and a robotic flexible arm system that lifts the pallets for inspection purposes. There are sensors integrated into the system that check the water for nitrogen and acidity levels and inspect the growth of the plants.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
The company CEO Brandon Alexander said that the system would provide the plant with everything it needs for producing a healthy harvest. Any water that cannot be used is sent back into the system to be reused later. Considering that agriculture plays a crucial part in California's economy, accompanied by acute water usage, the company believes that these robots can generate more produce while utilizing minimum water. Iron ox is also building a 535000 square foot greenhouse in Lockhart in Texas. The last major drought in California during 2012 and 2017 had cut irrigation for farmers, forced household conservation measures, and stocked deadly wildfires across the state. The round of funding included investors from Crosslink Capital, Pathbreaker Ventures, and R7 Partners, among the others. Considering the repeated occurrence of drought, raging wildfires, and climate crisis, Iron Ox's robot solutions will stir the agriculture industry towards sustainability, foster innovation across the sector, and attract the interests of several tech innovators. The association with Bill Gates has been substantial for the growth of the company so far.
More in News