Arable Raises $4.2M in Series A
Arable, the startup that looks to reduce supply chain risk by providing the Ag industry with efficient, predictive analytics of crop production from growth to final yield, has raised $4.2M in a round of Series A funding. The round was led by Middleland Capital and S2G Ventures. Arable will be taking that funding for product development, looking to produce 100s of units of Arable Mark, the company’s crop analytics device.
Since presenting at the Ag Innovation showcase in 2016, the company has been working to build partnerships with Ag input and food companies as well as proving out a scalable production model. The company contracts out production but will oversee the manufacturing of their devices, at a facility in Fremont, California.
Arable made important connections at the Ag Showcase including investors and an important pilot project customer, a major agriculture inputs supplier. These relationships have helped the company go into full scale production and reach out to a variety of additional pilot customers, according to Adam Wolf, founder and CEO.
For the next year, the company will be focusing on selling units to reach revenue targets for Series B volume, reduce supply chain risk, and continue to increase quality of their product.