#Canada #Autonomous Technology #4AG Robotics #mushroom harvesting #Salmon Arm

4AG Robotics Secures Series B Funding

4AG Robotics, a leader in autonomous mushroom harvesting, has successfully closed a Series B funding round, raising CAD 40 million. The round was led by Astanor and Cibus Capital, with support from Voyager Capital and other existing investors including InBC and BDC Industrial Innovation Fund. This funding marks a significant increase in total capital raised by the company, which now stands at CAD 57.5 million over the past two years.

Sean O'Connor, CEO of 4AG Robotics, expressed excitement over the funding, stating, "This investment allows us to evolve from a startup proving our technology to a larger-scale manufacturer ready to meet increasing demand." Over a short period, the company has transitioned from a pilot-stage technology to operating a fleet of robots, with an ambitious plan to deploy more than 40 additional units.

What makes their technology groundbreaking is its ability to harvest mushrooms autonomously using advanced artificial intelligence. The robots are equipped with precision suction grippers, AI-driven vision systems, and sophisticated movement controls, enabling them to pick, trim, and package mushrooms 24/7 without any human labor. This automation not only enhances efficiency but also provides real-time operational data to producers.

Chris Payne, COO of 4AG, highlighted their unique position, saying, "We are not just a theoretical robotic project; we have systematically integrated our technology into real-world agricultural settings. Effective implementation in complex farm environments is what sets us apart."

The involvement of Astanor as a lead partner emphasizes confidence in 4AG's potential. Astanor Ventures' partner, Harry Briggs, noted, "We believe that the mushroom sector is particularly suitable for robotic solutions. 4AG stands as the indisputable world leader in this space, harnessing advancements in AI to scale up production while minimizing resources across the board."

Cibus Capital, based in the UK and known for its focus on agri-tech investments, also participated, recognizing the significant impact that robotic solutions can have on mushroom cultivation. Archie Burgess, Cibus's investment director, stated, "The opportunity for automation in mushroom cultivation is enormous, and we are thrilled to support 4AG in extending their operations in Europe and beyond."

The global mushroom market is expected to exceed USD 70 billion by 2030, yet it faces challenges related to labor shortages and margin pressures. Harvesting alone can account for up to 50% of production costs in Western markets. With mushrooms doubling in size every 24 hours, farmers need to ensure consistent harvesting throughout the year. 4AG's ready-to-use robotic fleet presents producers with a sustainable path to long-term competitiveness without overhauling their current operational setups.

Michelle Lim, Vice President of Growth at 4AG, summed up their vision: "We're not just manufacturing robots; we're developing a new operating system for the mushroom industry. Our technology is designed for immediate adoption, ensuring a return on investment within three years. This funding propels us forward in scaling our solutions globally."

With this fresh capital injection, 4AG Robotics plans to:

• - Expand its manufacturing facility in Salmon Arm, British Columbia.
• - Enhance field service and customer success teams to support their growing client base.
• - Accelerate the development of next-generation features, such as basket packing, disease detection, and AI-driven performance optimization.

This notable funding round heralds a transformative era for mushroom farming, with 4AG Robotics leading the charge in driving efficiency and profitability in this sector.

About 4AG Robotics

Founded in Salmon Arm, British Columbia, 4AG Robotics specializes in creating fully autonomous harvesting systems for commercial mushroom farms. Utilizing AI-powered robots, they have developed a sustainable solution that allows for around-the-clock harvesting, eliminating the need for traditional labor. With a strong presence across several countries, 4AG is at the forefront of redefining agricultural practices through technology.