John Deere announced today that it is acquiring autonomous tractor driving technology startup Bear Flag Robotics for $250 million. According to the press announcement, “The deal accelerates the development and delivery of automation and autonomy on the farm and supports John Deere’s long-term strategy to create smarter machines with advanced technology to support individual customer needs.”
Bear Flag’s technology turns tractors into self-driving vehicles, allowing them to autonomously complete tasks such as spraying, mowing, discing and rippling. The fact that Bear Flag sold for that much is pretty impressive, considering the company had only raised a total $12.5 million.
But the big price tag is a reflection of the growing importance of automation in agriculture, which is in the midst of severe labor shortages that are getting worse. In addition to being short staffed, farm work is hard work that can involve heavy lifting in extreme heat for long hours, or managing fields in inclement weather. Automation like that from Bear Flag Robotics can run in adverse conditions without needing to take a break or run the risk of getting injured. Additionally, automation and robots can bring about more data and precision to agricultural processes, reducing the amount of herbicides and pesticides used, as well as optimizing fertilizer and water usage.
As is always the case in a market sector when a big acquisition happens, industry watchers will start to guess who the next acquisition target will be. There are actually a number of ag tech robotics startups that could be, well, ripe for picking. Augean Robotics and Future Acres both make autonomous vehicle platforms for farms that are meant to haul crops and gear around. Farmwise makes an autonomous weeding robot. And Small Robot Company makes a trio of autonomous robots to map and zap weeds.
It’s also worth noting that this is not John Deere’s first trip to the farm robot rodeo. In 2017 the company bought Blue River Technology, which made the LettuceBot robot for $305 million.
If you want to learn more about agricultural automation, check out the video from the “Crops and Robots: How Automation is Changing Agriculture” panel we held at our ArticulATE food robotics conference in May that featured Aubrey Donnellan, Founder and COO of Bear Flag Robotics (Spoon Plus subscription required).
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