Iron Ox, a San Carlos CA-based agtech startup, raised $53M in Series C funding.
The round was led by Breakthrough Energy Ventures.
The company, which has raised $98m in total funding, intends to use the funds to:
- expand its grocery store presence
- accelerate hiring, particularly of plant scientists, engineers, greenhouse operators and roboticists, and
- grow its research and development programs, and its manufacturing scale across the United States.
Led by CEO Brandon Alexander, Iron Ox leverages agriculture technology and expertise in robotics and artificial intelligence to make growing fresh produce carbon negative. Iron Ox, which launched autonomous farming in 2018, grows produce in proprietary greenhouses designed from the ground up to mitigate the environmental impacts of agriculture — a data-driven approach backed by plant science, robotics and artificial intelligence.
The company has redesigned every step of the farming process, from seed to store shelf to make nutritious, sustainable and local produce and reduce food waste and the footprint of farming.
Existing investors include Crosslink Capital, R7 Partners, Pathbreaker Ventures, ENIAC Ventures, Amplify Partners, At One Ventures and Y Combinator.