Abundant Robots, a startup automating the apple harvesting process to deliver high-quality produce to consumers, has launched to raise up to $20 million in seed capital via equity crowdfunding site WAX.
The launch comes just weeks after the corporate innovation venture studio and startup incubator Wavemaker Labs Asia (agtech-focused division of Wavemaker Labs’ overall brand) purchased Abundant Robotics’ intellectual property.
This acquisition is part of Wavermaker Labs’ larger strategy to bring intelligent automation solutions to market and help shape a future of food that is more efficient and sustainable, and is filled with prosperity, thoughtful sourcing and improved food quality from seed to fork.
Bolstering Wavemaker Labs’ AgTech portfolio which already includes Future Acres, Abundant Robots aims to create innovative and easy-to-adapt equipment to help farmers maximize efficiency when harvesting without compromising the quality of the food.
Coupling Abundant Robots’ robotic manipulation and vacuum-based picking capabilities with Wavemaker Labs’ decade-long expertise in developing and scaling technology companies will take the brand to the next level and bring its machine to market at a more accessible price point.
Capital raised during the initial seed round will be used to build an experienced management team, ramp up R&D operations and kickstart the business.
By launching through equity crowdfunding, any individual can invest in the company without large upfront costs.