October 24, 2024

By Gerelyn Terzo, Global AgInvesting Media

Making a statement in the robotics and AI revolution, Seattle, Washington-based Carbon Robotics has attracted a whopping $70 million in a Series D investment round. The fast-growing company will direct the proceeds toward growing its capital-intensive LaserWeeder business, developing software and hardware products, and expanding its manufacturing footprint. Led by new investor BOND, the round also included a lineup of returning backers, not least NVentures, AI darling NVIDIA’s venture capital arm, which also invested back in May.

Other participants in the latest round were Anthos Capital, Fuse Venture Capital, Ignition Partners, Revolution, Sozo Ventures and Voyager Capital, buoying the company’s total fundraising tally to $157 million. Carbon Robotics CEO and Founder Paul Mikesell is cited by GeekWire as sharing that the fundraising will bankroll the company’s domestic and international expansion push into Asia Pacific and Europe as well as its plans to debut a 24,000 square-foot manufacturing plant in Eastern Washington.

Carbon Robotics CEO and Founder Paul Mikesell, a University of Washington alum, stated, “This funding represents a pivotal milestone not just for our company but for farmers and consumers worldwide. We’re leading a transformative shift, and this investment accelerates our ability to pioneer AI and robotics that will reshape farming for generations to come. I’m excited to have the strong backing of BOND and existing investors like NVentures and to welcome Mood Rowghani to our board.”

While AI and robotics are not entirely new to the agriculture industry, Carbon Robotics takes a different tack. Its approach is seemingly working considering farmers across North America, Europe and Australia have removed billions of weeds in dozens of crop types without the need for harmful chemical herbicides, hand labor or soil disruption.

Instead of adopting a robots-as-a-service model, which is reportedly the go-to strategy of other agtechs in this niche, Carbon Robotics sells its products directly to farmers, including its flagship LaserWeeder. This machine harnesses a combination of computer vision and AI deep learning models to spot weeds threatening crops in real time, eliminating the problem with its high-powered lasers. The company touts benefits like lower farming costs, higher crop yields and improved soil health.

Bond Capital, which has backed the likes of Uber, Spotify and Block, will also have a voice in the future direction of the company. Bond General Partner Mood Rowghani, who co-founded the VC firm in 2019, has gained a seat on the Carbon Robotics board, saying that the company is “one of the most exciting and impactful applications of robotics and AI.”

Bond’s Rowghani further commented, “Carbon Robotics is uniquely positioned to deploy AI to transform the massive agriculture industry at a critical time. Its proven ability to execute and scale, combined with a visionary leadership team, makes it a clear standout in the space. This investment reflects our strong conviction in the central role Carbon Robotics will play in shaping the future of farming.”

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