Oishii, Monarch Tractor, Inari, Carbon Robotics, GrowUp, Pairwise Raise Funding in AgTech

The year 2024 saw significant advancements in the AgTech sector, with several companies securing substantial funding to propel their innovative projects forward. Among these, Oishii, Monarch Tractor, Inari, Carbon Robotics, GrowUp, and Pairwise stood out for their notable funding rounds.

Oishii, a vertical farming startup founded in 2016, raised $150 million in Series B funding. This investment will drive Oishii’s first international expansion into Tokyo, Japan, and scale the production of its flagship product, the Omakase Berry. Known for premium indoor-grown strawberries and cherry tomatoes, Oishii supplies luxury grocery outlets and high-end New York restaurants. The funding will enable Oishii to further enhance its vertical farming capabilities and meet the growing demand for sustainable and high-quality produce.

Monarch Tractor secured $133 million in Series C funding, marking the largest round in agricultural robotics. Led by Astanor and HH-CTBC Partnership, with support from additional investors, this funding will accelerate Monarch’s global expansion and AI-driven automation solutions through the WingspanAI platform. Monarch’s MK-V, the world’s first fully electric, driver-optional smart tractor, targets specialty crops such as vineyards and orchards. This investment underscores the potential of agricultural robotics to transform farming practices and improve efficiency.

Inari closed a $103 million funding round, bringing its total equity to $575 million. The investment supports Inari’s AI-powered crop science initiatives aimed at enhancing sustainability and crop resilience. The funds will help expand research and innovation in crop breeding technology, further solidifying Inari’s position as a leader in AI-driven agricultural solutions.

Carbon Robotics raised $70 million in Series D funding, increasing its total to $157 million. Led by BOND, the round included investments from NVentures, Anthos Capital, and others. The funding supports the expansion of Carbon Robotics’ LaserWeeder technology, which eliminates weeds without chemicals. Carbon Robotics plans to enhance manufacturing and expand into Europe and Asia-Pacific, addressing the critical need for sustainable weed control methods.

GrowUp, the UK’s leading vertical farm, received $48 million in funding from Generate Capital. This investment follows an initial $25 million investment in 2021 and will expand GrowUp’s Kent facility and further develop its branded salad products, supporting supermarket supply chains. GrowUp aims to accelerate R&D and strengthen its role as a B Corporation, emphasizing its commitment to sustainable and responsible business practices.

Pairwise secured $40 million in Series C funding to scale gene editing technologies. The funds will advance Pairwise’s Fulcrum Platform and expand collaborations with Corteva Inc. and Bayer. Pairwise continues to develop specialty and commodity crops, focusing on sustainability and improved yields. This investment highlights the potential of gene editing to revolutionize crop development and address global food security challenges.

These funding rounds underscore the growing importance of AgTech in addressing global agricultural challenges. From vertical farming and agricultural robotics to AI-powered crop science and gene editing, these companies are at the forefront of innovation, driving sustainable and efficient farming practices. Their success not only benefits the agricultural sector but also contributes to a more sustainable and productive future for our planet.

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