Italian-American farm machinery and agriculture precision technologies maker CNH Industrial acquired agritech startup Augmenta for $110M through an all-cash transaction.
The acquisition is expected to accelerate the growth of CNH's Sense and Act technology.
Augmenta leverages multispectral cameras and machine learning to identify the right amount of chemicals required for every inch of the land.
- The Greece-based startup had raised $11.2M in total funding.
- CNH was a strategic investor in Augmenta, having led their $8M Series A round in March 2021.
- CNH Industrial Ventures held a 10.5% stake in the firm.
- Augmenta will operate under CNH's Raven brand.
- CNH reported $25B in revenue in 2022.
- The firm is expecting $1B to come from sales of its precision technology components this year.
