TEL AVIV, Israel, Sept. 23, 2021 /PRNewswire/ — Blue White Robotics, a platform that provides Robots-as-a-Service (RaaS) that enables farms to run themselves autonomously, today announces $37M in Series B funding, led by New York-based global private equity and venture capital firm Insight Partners. Entrée Capital co-led this Series B after having seeded Blue White Robotics and participated in its Series A round. They are joined by Clal Insurance, Jesselson Family Office, Peregrine VC, and Regah Ventures who also made significant contributions in this round. With the trust of their market-leading clients and partners, they will use this new funding to increase the rapid adoption of these technologies, drive new US sales, and attract key talent for their all-star international team.
Blue White Robotics creates a cohesive experience across farming operations year-round from sprays and harvesting to disking and seeding. By retrofitting existing infrastructure with intelligent autonomous algorithms, the robot tractors improve farm productivity, precision, and worker safety. Additionally, the Blue White Robotics platform collects and distributes data that creates new services to increase yields and reduce inputs for the growing autonomous operation. The company's values of "Fellowship, Love of the land, and Innovation" carry through all aspects of the company's mission to revolutionize agriculture through autonomy. The autonomous farming technology company now enjoys $50M of investment since its inception in 2017.
"With this new round of investment by some truly world-changing leaders, we have the power to continue our vision for a safer, smarter, and productive autonomous farm for the 21st-century," explains Ben Alfi, co-founder and CEO of Blue White Robotics. "Our amazing team is excited by this renewed commitment to solve the many issues facing our modern farmer and the food system as a whole."
"Farming is an industry that has seen little progress since the advent of the tractor, and it's time for farmers to enjoy the same advancements in technology as others. Blue White Robotics' value proposition is unparalleled in agriculture technology, and they truly stand by the need for "Autonomy, Now, said Daniel Aronovitz, Vice President at Insight Partners. "The company's ease of adoption will allow the product to quickly scale within the industry and enter new markets. We're excited to partner with Blue White Robotics as they grow."
"At Entrée we have a tagline, 'Partnering with the exceptional to build the impossible'," explains Avi Eyal, Managing Partner of Entrée Capital. "The exceptional competence of the Blue White Robotics team with their Robot as a Service (RaaS) has made the disruption of the agricultural industry now possible. We've backed Blue White Robotics from the start and are proud to continue backing them now."
About Blue White Robotics
Blue White Robotics heralds the revolution in agriculture with our autonomous farm platform, creating an easily adopted system for robots as a service (RaaS). We believe that solving the biggest issues facing agriculture – diminishing labor resources, increasing climate uncertainty, and climbing costs – can be solved through a combination of software and hardware that compliments existing farming infrastructure. This network of interconnected technologies allows for an increase in precision, safety, and productivity.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised, through a series of funds, more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Entrée Capital
Entrée Capital manages over $650M across six funds and has invested in startups such as monday.com, Snap, Stripe, Deliveroo, PostMates, Riskified, FundBox, Toka Cyber, Kuda Bank, Stash, PillPack, Gusto, Cazoo, Coupang, Glovo, and over 100 other companies. With offices in Israel, UK, and the US, Entrée Capital has realized 26 exits and IPOs and its portfolio has 14 unicorns.
About Clal Insurance
Clal Insurance is one of Israel's leading investment groups; it owns and manages a diversified portfolio that encompasses leading industrial, technology, biotech and retail companies. Clal Insurance is responsible for managing assets including Clal policy holders, pension, provident, advanced training and profit-sharing (Manager's Insurance) funds, as well as the Clal Group's equity and insurance reserves nostro.
About Jesselson Family Office
Jesselson is a family office based in Tel Aviv. Investing in a variety of industries including RE and privet equity in the venture space Jesselson has been focusing on food and Ag ventures technology.
Founded in 2001, Peregrine Ventures is a leading Israeli capital fund that focuses on high-tech companies in various stages in the fields of life sciences, pharma, digital health, and more. We specialize in identifying opportunities before they are sufficiently mature for ordinary investors and provide our know-how in handling early-stage companies, through the growth stage with the ability to leverage financial government support.
SOURCE Blue White Robotics