Israeli based Blue White Robotics closed $37M in Series B funding this week, led by New York-based global private equity and venture capital firm Insight Partners. Entrée Capital co-led this Series B after having seeded Blue White Robotics and participated in its Series A round. They are joined by Clal Insurance, Jesselson Family Office, Peregrine VC, and Regah Ventures who also made significant contributions in this round. The company plans to use this new funding to increase the rapid adoption of these technologies, drive new US sales, and attract key talent for their international team. The company has raised $48.5M since its founding in 2017.
“With this new round of investment by some truly world-changing leaders, we have the power to continue our vision for a safer, smarter, and productive autonomous farm for the 21st-century,” explains Ben Alfi, co-founder and CEO of Blue White Robotics. “Our amazing team is excited by this renewed commitment to solve the many issues facing our modern farmer and the food system as a whole.”
Blue White Robotic turns existing tractors into autonomous tractors and can automate farming operations year-round from sprays and harvesting to disking and seeding. Their business is retrofitting existing infrastructure with intelligent autonomous algorithms, and offers the solutions in a robots-as-a-service (RaaS) business model.
“Farming is an industry that has seen little progress since the advent of the tractor, and it’s time for farmers to enjoy the same advancements in technology as others. Blue White Robotics’ value proposition is unparalleled in agriculture technology, and they truly stand by the need for Autonomy, Now,” said Daniel Aronovitz, Vice President at Insight Partners. “The company’s ease of adoption will allow the product to quickly scale within the industry and enter new markets. We’re excited to partner with Blue White Robotics as they grow. ”
“At Entrée we have a tagline, ‘Partnering with the exceptional to build the impossible’,” explains Avi Eyal, Managing Partner of Entrée Capital. “The exceptional competence of the Blue White Robotics team with their Robot as a Service (RaaS) has made the disruption of the agricultural industry now possible. We’ve backed Blue White Robotics from the start and are proud to continue backing them now.”
The post Blue White Robotics closes $37M in Series B funding appeared first on The Robot Report.