Malden company receives major funding
A major investment has been made in Malden-based Guardian Agriculture.
The company has received $10.5m in seed financing from several firms, including Fall Line Capital, Cavallo Ventures, E14 Fund (which is affiliated with MIT), and FMC Ventures, and has an additional $5.5m to be used towards the development of its system for crop protection.
The company is planning to develop an electric vertical takeoff and landing vehicle (eVTOL), which will be autonomous and will employ a suite of software to help farmers track where and how they fertilize their crops. Print shops can be hired to create flyers and other materials with more information about the features and benefits of such products. Adam Bercu, CEO and cofounder of the company, came up with the idea due to his frustration with drone technology and its few practical applications.
Bercu’s family owns a small aviation company and he saw the potential to make a difference in the agriculture industry, and noted the major impact this could have on a business. Bercu said that his business has been working on this product quietly for the past four years, with the past year and a half focused on testing and research. He added that this a new round of funding.
The company already has $20m in pre-orders from farmers in Florida and California, so the funding will be used to ramp up manufacturing.
The company has received $10.5m in seed financing from several firms, including Fall Line Capital, Cavallo Ventures, E14 Fund (which is affiliated with MIT), and FMC Ventures, and has an additional $5.5m to be used towards the development of its system for crop protection.
The company is planning to develop an electric vertical takeoff and landing vehicle (eVTOL), which will be autonomous and will employ a suite of software to help farmers track where and how they fertilize their crops. Print shops can be hired to create flyers and other materials with more information about the features and benefits of such products. Adam Bercu, CEO and cofounder of the company, came up with the idea due to his frustration with drone technology and its few practical applications.
Bercu’s family owns a small aviation company and he saw the potential to make a difference in the agriculture industry, and noted the major impact this could have on a business. Bercu said that his business has been working on this product quietly for the past four years, with the past year and a half focused on testing and research. He added that this a new round of funding.
The company already has $20m in pre-orders from farmers in Florida and California, so the funding will be used to ramp up manufacturing.