Farmbot $5M Series A+ with Telstra

  • 08.12.2022
  • Smart Company

Agtech startup Farmbot will soon close $5 million in Series A+ funding to help with its expansion across Australia and the US. Telstra led the round with $2 million, which is the third time the telco has invested in the company.

Most recently, Telstra invested $1 million as part of Farmbot’s Series A back in October 2021.

Farmbot is an IoT and precision agriculture solution company that allows farmers to monitor their water ecosystems in real time in order to make decisions around resource allocation, asset utilisation and more.

Since first launching, the company has released a range of products and hardware that talk directly to the Farmbot system.

“Farmers can use the same platform to look at water, pumps, rainfall, soil and weather,” Andrew Coppin, managing director of Farmbot, said in a phone call with SmartCompany.

For Farmbot, much of what drives its future direction is its users. Most recently that resulted in its new Farmbot Xtend product.