App Harvest, a publicly-listed agritech startup that uses robotics, and artificial intelligence to help indoor farmers with precision and smart farm decision making, acquired Root Ai for USD 60 million to further strengthen its robotic services. The deal involves USD 10 million in cash with the remainder paid out via approximately 2,328,000 AppHarvest common shares.
RootAi manufactures “Virgo” intelligent robots that use machine learning and AI to allow intelligent motions, gentle touch, and real-time detection for indoor farm work.
According to App Harvest, Virgo will be instrumental to the company’s growth in robotic harvesting for indoor farms. Specifically, App Harvest is eyeing the amount of data that can be collected from Virgo to analyze crop health, optimize agricultural operations, and predict yield.
Founded in 2017, App Harvest helps indoor farmers with precise and smart farming decision-making by providing services such as integrated pest management, robotic harvesting, and yield prediction. Founded in 2018, Root Ai, allows indoor farmers with smart harvesting via its robot, Virgo. The company has conducted tests of its patent-pending robotic system in the U.S., Canada, and the Netherlands.
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