SANTA MONICA, Calif.,
Feb. 23, 2021 /PRNewswire/ -- Today,
Future Acres – a new start-up bringing sustainable agricultural
robotics to the farm industry in order to optimize workforce
efficiency and safety – has launched to raise up to $3 million in seed capital via equity
crowdfunding site SeedInvest. The company is producing an
autonomous, electric agricultural robotic harvest companion, named
Carry, to help farmers gather hand-picked crops faster and with
less physical demand.
At a time when farmers are tasked with producing more food than
ever before to meet growing global population demands – predicted
to get as high as 10 billion people by 2050[1] –
limitations in labor and harvesting tools, in addition to
environmental and sourcing scrutiny, have challenged farmers to
stay profitable and scale their businesses. Bankruptcies hit an
all-time high pre-COVID, and as the pandemic swept the farmlands,
farmers struggled to do more with less as shortages in the supply
chain were exposed and the state of the industry worsened. In fact,
farm income is expected to fall 12% to $79.4
billion in 2021, according to the Food and Agricultural
Policy Research Institute, with production costs only climbing. The
U.S. Department of Agriculture forecasts total production expenses
to increase by $8.6 billion (2.5
percent) compared to 2020 - reaching $353.7
billion in 2021 due to a higher spend on feed, fertilizer
and labor. Optimization and reducing cost are paramount for the
industry to recover from the challenges of the
pandemic.
Future Acres aims to provide farmers with an accessible and
affordable solution that not only optimizes the farming industry
but builds new productivity into the food supply chain at the point
of harvest to push the industry into a new era of prosperity,
ethical sourcing and sustainability.
Through advanced artificial intelligence (AI), automation and
electric power, Carry streamlines the harvesting process with the
ability to transport up to 500 pounds of crops on all terrain and
in all inclement weather conditions – increasing production
efficiency by up to 30% and paying for itself in only 80 days. Its
machine learning and computer vision capabilities also allow the
machine to avoid obstacles like trees and people and collect and
apply data to further enhance its precision.
Because the agriculture industry still relies primarily on
humans to harvest specialty crops, seasonal farmworkers have to
handle produce with care while balancing harsh and dangerous
working conditions - often times with low and unreliable wages. The
International Labour Organization actually found that workers in
the industry run twice the risk of dying on the job compared with
workers in other sectors – mainly because they're working long
shifts under extreme weather conditions. Carry improves those
conditions by working alongside farmworkers as they harvest to
lessen the load. Using computer-vision-powered autonomy or through
remote control operation, Carry autonomously and safely follows
farmworkers for a whole day's work – the machine comes equipped
with a 7–10-hour swappable battery range or 6-10 miles traversed
terrain navigation. One Carry
operating in the field farms could result in up to $13,500 in efficiency gain per season, and with
multiple Carrys operating autonomously to transport crops from the
field back to the farm, 5-10 workers can stay focused on quality,
careful sourcing, without needing to go back and forth for
miles.
As consumer focus increases on food supply chain practices and
as attention falls on health and human safety post-pandemic, Future
Acres is also planning on focusing on precision agriculture,
measuring pesticide-use and crop health, and tracking yield,
quality and food waste, without adding emissions or toxins to the
farmlands it navigates through. The machine-learning-backed
approach will ultimately serve to improve the final quality of food
reaching future consumer tables.
"The agricultural industry is facing a seemingly never-ending
list of challenges on a financial, worker and sustainability
level," said Suma Reddy, CEO of
Future Acres. "Our vision with Carry was to develop a tool and
system that could help alleviate these stressors and move the
industry forward by providing a helpful operational solution
capable of supporting workers by reducing the physical toll – back
pain, twisted ankles and shoulder inquires no longer need to be the
normal. Carry is the future of harvesting and will make an
immediate impact on the lives of those in the field each and every
day, all while reducing costs and helping farmers to stay
profitable."
Future Acres plans to bring Carry to small- and medium-sized
farms throughout the United
States. It is backed by lead investors Wavemaker Partners, a
global Venture Capital fund with $400M AUM and Wavemaker Labs, a robotics and
automation-focused venture studio. By launching its seed capital
raise through equity crowdfunding, any individual can invest in the
company without large upfront costs. The democratized venture
capital model allows everyday investors to be pioneers in the most
cutting -edge technologies like robotics, automation and artificial
intelligence.
To invest in Future Acres, please visit www.futureacres.co.
About Future Acres
Future Acres is automating harvesting to carry the farming industry
into a more sustainable future. Its flagship product, Carry, offers
farmers a reliable solution to maximize harvesting and optimize
workforce safety and efficiency. The company is backed by lead
investor, Wavemaker Partners, a global Venture Capital fund with
$400M AUM and Wavemaker Labs, a
robotics and automation focused venture studio. Invest in Future
Acres today by visiting www.futureacres.co.
Future Acres is accepting reservations for an Offering under
Tier II of Regulation A. No money or other consideration is being
solicited, and if sent in response, it will not be accepted. No
sales of securities will be made or commitment to purchase accepted
until qualification of the offering statement by the Securities and
Exchange Commission (the "Commission") and approval of any other
required government or regulatory agency. A reservation is
non-binding and involves no obligation or commitment of any kind.
No offer to buy securities can be accepted and no part of the
purchase price can be received without an Offering Statement that
has been qualified by the Commission. A Preliminary Offering
Circular that forms a part of the Offering Statement has been filed
with the Commission, a copy of which may be obtained from Future
Acres:
https://www.seedinvest.com/future.acres.
[1] To Slow Global Warming, U.N. Warns Agriculture
Must Change, Aug. 8, 2019
Press Contact
Diane
Zuniga
909-510-0433
dzuniga@golin.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/future-acres-launches-to-bring-sustainable-agricultural-robotics-to-farm-industry-and-optimize-workforce-efficiency-and-safety-301233000.html
SOURCE Future Acres