Aigen, an AI-driven robotics company, recently secured a significant milestone by closing a $12 million Series A financing round. The investment came from renowned firms such as ReGen Ventures, NEA, Cleveland Avenue, Incite, and Susquehanna Private Equity Investments LLLP. The funding injection will enable Aigen to expand its manufacturing capacity, effectively meeting the surging pre-order demand and ushering in a new era of sustainable and scalable agriculture.
“The Aigen team’s exceptional progress in hardware and software development has us eagerly supporting their next phase – scaling,” expressed Marcario from ReGen Ventures. This sentiment echoes the belief that innovation is vital for a regenerative future, and Aigen exemplifies the visionary approach required for transformative change.
With its establishment in 2020, Aigen stands as the sole agricultural technology company focused on developing fully solar-powered autonomous robots for crop management. Through the merger of LTE connectivity and cutting-edge advancements in AI, ML, solar energy, and battery technology, Aigen has crafted a reliable and sustainable product that both saves farmers time and money.
“Agriculture is the intersection of human health and planetary health, and that’s why we focused on creating technology for farmers that is both profitable and sustainable,” stated Kenny Lee, the co-founder and CEO of Aigen. The key objective behind Aigen’s technology is to eliminate herbicide-resistant weeds at scale, a critical problem faced by farmers. Moreover, this innovative solution aims to detach farmers from the conventional system of chemical dependency.
As an investment partner, Swati Mylavarapu, managing partner at Incite, highlighted the significance of Aigen’s mission in transforming the agricultural landscape. “The Aigen team embodies what Incite looks for in our investments: talented entrepreneurs who have the power to make the world a better place,” commended Mylavarapu. “We are thrilled to be joining them.”
The funding received by Aigen, totaling $19 million to date, is being utilized for the establishment of a 7,500 sq ft manufacturing and R&D facility. This facility will specifically focus on producing Aigen’s solar-powered robotic fleet, showcasing the company’s commitment to revolutionizing agriculture with sustainable practices.
“Aigen is defining a new era for agriculture, where farmers prosper, and people are healthier,” emphasized Rich Wurden, co-founder, and CTO of Aigen. By harnessing the advancements in AI, robotics, electric motors, and solar power, Aigen aims to automate farming solutions that have remained virtually unchanged for thousands of years. Through their technological prowess and dedication, Aigen is empowering farmers to eliminate harmful chemicals from their farms and, consequently, from our food.
Q: What is Aigen?
A: Aigen is an AI-driven robotics company specializing in agricultural technology.
Q: Who invested in Aigen’s Series A funding round?
A: ReGen Ventures, NEA, Cleveland Avenue, Incite, and Susquehanna Private Equity Investments LLLP were among the investors in Aigen’s Series A financing.
Q: How is Aigen revolutionizing agriculture?
A: Aigen is developing solar-powered autonomous robots that improve crop management without the need for chemicals or fossil fuels, thereby promoting sustainability and profitability for farmers.
Q: What problem does Aigen aim to solve?
A: Aigen’s primary focus is to eliminate herbicide-resistant weeds at a large scale, addressing a critical issue faced by farmers.
Q: How is Aigen helping farmers?
A: Aigen’s robotic fleet frees farmers from dependency on chemical-based farming systems, enabling them to adopt profitable and sustainable practices.
Q: How does Aigen’s technology benefit the food industry?
A: By eliminating harmful chemicals from farms, Aigen’s innovative technology supports the production of healthier and more sustainable food.