Fredericton-based Resson, which helps agriculture service providers and individual growers boost productivity with predictive analysis for crop management, has raised a $14 million CAD ($11 million USD) Series B.
Monsanto Growth Ventures led the Series B, while McCain Foods joined the round as an investor and strategic partner. Build Ventures, Rho Canada Ventures, New Brunswick Innovation Foundation, BDC Capital and East Valley Ventures also joined the round.
Resson is expanding its product development and sales and marketing efforts, and adding staff to its technical development team in Fredericton. The company also plans on opening a new business office in San Jose, Calif.
“Resson has been able to scalably move beyond Normalized Difference Vegetation Index (NDVI) to detect and diagnose in-season anomalies impacting yield,” said Ryan Rakestraw, Venture Principal at Monsanto Growth Ventures. “We envision this impressive data-driven technology helping to improve yields, while reducing costs across a number of crops and cropping systems. We’re looking forward to working closely with Resson as its team continues to develop a predictive solution that could benefit the entire global agriculture industry.”
The company’s Resson Agricultural Management and Analytics System (RAMAS) leverages drones and integrates large-scale cloud-based data analytics with sensor fusion and robotic platforms to assess crop status and health. The goal is to help growers optimize agricultural operations.