Motorleaf closes US $2.85M seed financing led by Radicle Growth

Motorleaf has raised US $2.85 million in seed funding led by Radicle Growth and includes support from Desjardins Capital, Real Ventures, Fluxunit (corporate venture unit of OSRAM), BDC Capital and 500 Startups Canada.

The financing closed in two tranches with the final US $2 million closed in May 2018.

Founded by CEO Alastair Monk and CTO Ramen Dutta, Montreal based Motorleaf helps any Greenhouse, Indoor Farm, and Growth Chamber to monitor, control and predict via its suite of hardware and software.

photo credit: Motorleaf

News Release

Motorleaf’s $2.85M Seed Round Accelerates AI in Greenhouse Operations
Leading Investors Back Dynamic AI Technology That Improves Yield Predictions, Maximizes Profits

May 15, 2018 09:16 AM Eastern Daylight Time

MONTREAL–(BUSINESS WIRE)–Motorleaf – an artificial intelligence startup focused on bringing actionable, data-driven insights to greenhouse and indoor operators –announced today it has raised $2.85 million USD to further develop its real-time, agronomic solutions for the fast-growing controlled-environment agriculture sector.

The investment, closed in two rounds with the final $2 million USD committed this May, is led by top ag- and food-tech acceleration fund Radicle Growth and includes support from Desjardins Capital, Real Ventures, Fluxunit (Osram Ventures), BDC Capital and 500 Startups Canada.

“Motorleaf is changing the way we grow in greenhouses and indoors with their application of enabling AI anywhere at any time,” says Radicle Growth CEO Kirk Haney. “Their technology has been proven in vegetable production environments and we are investing this capital to help the company scale.”

Motorleaf’s hardware and software hones-in on the human and environmental aspects of greenhouse production, helping to predict accurate harvest amounts in a tight-margin industry. By providing a digital agronomist, Motorleaf’s yield prediction tools help greenhouse operators meet contract obligations, better plan weekly operations and foresee production capacities in real time.

In initial trials with California greenhouse SunSelect, Motorleaf’s technology led to a 50-percent reduction in yield prediction error in tomatoes. These results were enough for SunSelect to adopt Motorleaf’s algorithms after a short trial.

“Better yield prediction is only the beginning for Motorleaf’s value to this sector,” says Motorleaf CEO Alastair Monk. “We’re ultimately producing dynamic grower protocols, which help manage everything from light and nutrients to predicting crop diseases before they happen, and optimized growing conditions that increase ROI – all based on real-time data.”

The next phase for Montreal-based Motorleaf will take a broad look at greenhouse conditions and apply the technology to multiple crops. The data insights will not be a one-time, static prediction, but allow growers to adjust growing conditions and compensate for the unexpected.

“Motorleaf’s ability to apply automation by adding convenient hardware to preexisting greenhouse control systems makes them not only practical, but ready for today’s greenhouse industry,” says Haney. “The next round of solutions coming out of testing only highlight more of the potential insights this technology brings to the table.”

Motorleaf’s AI program stands to bring applicable, cost-cutting solutions to greenhouses surrounding labor, energy, over/under production and nutrient management. There are 52.3 billion square feet of greenhouses and indoor farms that can benefit from Motorleaf’s technology today.

Haney and Lars Roessler from Fluxunit will join Motorleaf’s Board of Directors, helping the company make connections with key industry players, expanding its global reach and furthering application of the machine learning algorithms in diverse indoor agriculture facilities.

More about our investors:
Radicle Growth
Desjardins Capital
Real Ventures
Fluxunit—Osram Ventures
BDC Capital

Contacts
Grit Marketing, LLC
Kayla Hedrick
309-657-1858
kayla@marketingandgrit.com


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.
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