Agtech startup Smart Ag has been acquired by Raven Industries as the company continues to invest and focus on its autonomy solutions.
Smart Ag will be part of the newly announced division, Raven Autonomy. Raven Autonomy will focus on product development for OEM partners and ag retailers that enables improved resource allocation and reduced labor needs.
“The acquisition of Smart Ag is part of a bold, company-wide strategy for Raven,” Dan Rykhus, Raven Industries President and CEO said in a news release. “It is a key investment in Raven Autonomy, one of our two strategic growth platforms. Autonomy in agriculture is the future of farming, and this acquisition, coupled with our existing precision agriculture solutions, solidifies our position as a technology leader within this market.”
Founded in 2015, SmartAg first demonstrated its concept of AutoCart on a tractor and grain cart combination.
In the announcement of the acquisition, Raven highlights Smart Ag’s proprietary product as “easy to use and modular for scalability.”
This announcement comes one day after Raven became a majority owner of DOT.