May. 2, 2022
Yamaha Motor Ventures, the strategic business development and investment arm of Yamaha Motor Co., Ltd. (Tokyo: 7272), recently announced it led a $7.5 million Series A funding round for Verge, developers of the world's first AI-powered interactive software that enables farmers to plan, simulate, and validate the movement of equipment in the field and execute field operations efficiently.
"This investment in Verge Ag underlines our thesis that precision farming technologies are mission critical to a sustainable future for agriculture," said Nolan Paul, Partner and Global Ag Tech Lead for Yamaha Motor Ventures. "The convergence of farm equipment, automation, and digital solutions are required to grow more food, more sustainably, and with considerably fewer resources."
The $7.5 million funding round led by Yamaha Motor Ventures also included participation from the Fall Line Capital, SP Ventures & Artesian/GrainInnovate. Following the latest raise, Verge Ag is developing the digital twin of the farm that will help farmers assess the dependencies between land and equipment when planning field operations. This provides farmers a seamless planning experience with a data framework that fosters innovative data reuse, integration, and visualization to enable digital characterization of fields, terrain, water flow, and operational windows.
"We are developing a solution that helps farmers manage their land and equipment to efficiently and remotely execute field operations, enabling farming to be truly autonomous," said Ryan Johnson, CEO of Verge. "This capital powers our strategic plan to increase the adoption of Launch Pad in key markets including the US, Latin America, EU, and Australia. We also plan to ramp up hiring for roles across our engineering, marketing, sales, and corporate development teams."