Total amount raised
$143.9 Millions
Latest funding date
10/1/2024
Location
Carbon Robotics has successfully raised significant funding over multiple rounds, with its latest being a Series D round closed on October 21, 2024. The company has attracted a diverse group of investors, including Ignition Partners and NVentures.
Keep reading to explore the intricacies of Carbon Robotics' fundraising journey and the investors backing this innovative platform.
What Is Carbon Robotics?
Carbon Robotics, founded in 2018 by Paul Mikesell, is headquartered in Seattle, Washington. The company specializes in AI-powered farming robotics, aiming to enhance agricultural efficiency through precision tools.
One of their flagship products, the "Autonomous Weeder," uses artificial intelligence and computer vision to identify and remove weeds autonomously, offering a sustainable alternative to traditional methods.
With a team of 101-250 employees, Carbon Robotics continues to innovate in the field of agricultural technology, driving the future of farming with advanced solutions.
How Much Funding Has Carbon Robotics Raised?
- Series A
- Amount Raised: $8.9M
- Date: September 2019
- Lead Investors: Bolt, Ignition Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product prototypes and establish market presence.
- Series B
- Amount Raised: $27M
- Date: September 2021
- Lead Investors: Anthos Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand the team.
- Series C
- Amount Raised: $30M
- Date: April 2023
- Lead Investors: Sozo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand into new markets.
- Series C
- Amount Raised: $8M
- Date: December 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing R&D and market expansion.
- Series C
- Amount Raised: Not publicly disclosed
- Date: May 2024
- Lead Investors: NVentures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and expand product offerings.
- Series D
- Amount Raised: $70M
- Date: October 2024
- Lead Investors: BOND
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the LaserWeeder business, introduce new products, and expand manufacturing capabilities.
Total amount raised: $143.9M. Current valuation: Not publicly disclosed.
Key Investors
- Ignition Partners
- Details: Ignition Partners is a venture capital firm that focuses on early-stage and growth-stage investments. They have a strong track record in enterprise software and technology infrastructure.
- Investment Focus Areas: Enterprise software, cloud computing, technology infrastructure
- Notable Investments: Splunk, DocuSign, Cloudera
- NVentures
- Details: NVentures is the venture capital arm of NVIDIA, focusing on companies that leverage NVIDIA’s technology. They are known for investing in cutting-edge AI and robotics startups.
- Investment Focus Areas: AI, robotics, advanced manufacturing
- Notable Investments: Graphcore, Vicarious
- BOND
- Details: BOND is a venture capital firm that led the Series D funding round for Carbon Robotics. Mood Rowghani, a general partner at BOND, will join Carbon Robotics’ Board of Directors.
- Investment Focus Areas: Transformative technologies, high-growth companies
- Notable Investments: Not publicly disclosed
- Anthos Capital
- Details: Anthos Capital is a venture capital firm that invests in high-growth companies across various sectors. They have been an existing investor in Carbon Robotics.
- Investment Focus Areas: Technology, consumer companies, high-growth sectors
- Notable Investments: Not publicly disclosed
- Sozo Ventures
- Details: Sozo Ventures focuses on helping startups expand globally. They have been an existing investor in Carbon Robotics, participating in multiple funding rounds.
- Investment Focus Areas: Global expansion, technology companies
- Notable Investments: Not publicly disclosed
What's Next for Carbon Robotics?
Carbon Robotics stands at the cusp of a transformative era in agriculture. With the recent $70 million Series D funding, the company is poised to scale its LaserWeeder business, introduce innovative software and hardware products, and expand manufacturing capabilities in Eastern Washington. The opportunities are vast, with plans to grow into new markets, including Eastern and Southern Europe and the Asia-Pacific region, signaling a significant market potential.
Future fundraising seems likely as the company continues to innovate and expand. The strong backing from high-profile investors suggests that additional funding rounds could support further growth and technological advancements. However, challenges such as scaling manufacturing, navigating new geographic markets, and maintaining technological leadership in a competitive industry remain. Overcoming these hurdles will be crucial for Carbon Robotics to fully realize its potential in revolutionizing agriculture with AI-powered solutions.
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