Abundant Robots – a start-up automating the apple harvesting process to deliver high-quality produce to consumers – has launched a crowdfunding campaign to raise up to US$20m (£14.7m) in seed capital, which would enable it to increase its R&D operations.
The launch follows the purchase of Abundant Robotics’ intellectual property by corporate innovation venture studio and start-up incubator Wavemaker Labs Asia. This acquisition is part of Wavermaker Labs’ larger strategy to bring intelligent automation solutions to market. It aims to help shape a future of food that is more efficient and sustainable, is thoughtful sourced, as well as improving food quality from seed to fork.
While Abundant Robots said it aims to create easy-to-adapt equipment to help farmers maximise efficiency when harvesting without compromising the quality of the food.
Coupling Abundant Robots’ robotic manipulation and vacuum-based picking capabilities with Wavemaker Labs’ expertise in developing and scaling technology, the companies will work to bring its machine to market at a more accessible price point.
Capital raised during the initial seed round, via equity crowdfunding site Wax, will also be used to build an experienced management team.
The start-up added by launching through equity crowdfunding any individual can invest in the company without large upfront costs.