Resson reaps $14m in series C round
Posted on 17 May, 2018 by Callum Cyrus, reporter
Mahindra & Mahindra, McCain, Monsanto and BDC Capital have all signed up for agriculture analytics software provider Resson's latest round, taking its total funding to $28m.
Canada-based agriculture analytics software provider Resson has received $14m in a series C round featuring conglomerate Mahindra & Mahindra, packaged food supplier McCain Foods and agrochemical producer Monsanto.
BDC Capital, part of the Canadian government-owned Business Development Bank of Canada (BDC), also contributed to the round, as did regional investment vehicle New Brunswick Innovation Foundation (NBIF), Build Ventures, East Valley and Rho Canada Ventures.
News of the deal follows reports earlier this month indicating Mahindra would invest about $5m in Resson in return for a stake of up to 10%. Monsanto took part through its corporate venturing unit, Monsanto’s Growth Ventures.
Founded in 2013, Resson has built a cloud-based platform that helps farms improve crop management by applying machine learning, data analytics and computer vision to images collected from tractors and drones.
The information gathered is displayed in a dashboard view along with tips on bolstering efficiency. Resson has partnered McCain Foods, its first customer, to pilot the technology in commercial potato farming.
McCain and Monsanto Growth Ventures had joined BDC Capital, NBIF, East Valley, Rho Canada and Build Ventures to supply $11m of series B funding for Resson in June 2016.
Rho Canada and Build had co-led Resson’s $3m series A round in 2014, participating alongside BDC, NBIF and assorted angel investors.
- A version of this article originally appeared on Global Corporate Venturing.
See more from this Government Report: Canada
Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.
Latest magazinePast Issues
Get full online access, the monthly magazine, weekly news alerts, special reports and more.See all subscription options