Farmwise

Part
01
of three
Part
01

Autonomous Weeding Robots-Competitive Landscape Part 1

Our research revealed that both Blue River Technology and Robovator are headquartered in California, United States while IC Weeer is the City at 't Haringvliet, Netherlands. This information has been entered in the attached spreadsheet. However, after searching extensively through Robovator and IC Weeer official websites, social media pages, competitors insights platforms and private company databases we could not obtain their number of employees, total funding and revenue information.

METHODOLOGY

First, we investigated Robovator and IC Weeder official websites, particularly their "About" pages for details around their number of employees, total funding, and annual revenues. The bulk of their official sites addresses the different weed removal technologies they offer without disclosing a direct answer to the queries raised. We also sought after any social media pages — Facebook, Twitter, LinkedIn and more, the companies operate in order to scan for the information, but found that Robovator does not maintain any social media page while IC Weeder's Facebook and Twitter accounts do not record the number of employees or the other data sets raised.

Next, we combed through different competitors' insight platforms like Crunchbase, ZoomInfo, DB Hoovers, and more, that keep profiles for tech companies, as well as funding and revenue information. Although Robovator and IC Weeder are profiled in some of the databases (CrunchBase and ZoomInfo, respectively), the inquired details to the granularity presented were not available.

As a last resort, we broadened the research criteria to examine private company databases like PitchBook and PrivCo in pursuance of their number of employees, total funding, and annual revenues. PitchBook offers users the ability to view private companies' funding status, overview, revenues, as well as the number of employees. Unfortunately, neither PitchBook nor PrivCo maintains Robovator and IC Weeder profiles in their databases. Therefore, we concluded that the information is broadly unavailable because these are private companies and they are not obligated to disclose their financials to the public.

We have completed the available information on column B - D of the attached spreadsheet.
Part
02
of three
Part
02

Autonomous Weeding Robots-Competitive Landscape Part 2

Two additional competitors of FarmWise are Hagie Manufacturing Co and Franklin Robotics. For each competitor, we provided data on their HQ location, the date founded and the number of employees among additional data. Our detailed findings have been presented in rows 2-10, columns E and F of the attached spreadsheet.

METHODOLOGY
We were unable to find information on the total funding for Hagie Manufacturing Co. In search of that information we checked databases, the news and the company's website for annual reports or press releases.

Firstly, we looked exhaustively through company databases such as Crunchbase, Hoovers and Zoominfo. Crunchbase provided information on the company’s M&A details, website traffic, and revenue. The limited information Hoovers provided include the company’s address and Facebook handle. The only information related to finances provided on ZoomInfo was Hagie’s revenue. We believe this strategy failed as a result of financial data not being publicly available because the company is private. [1]
Secondly, we looked exhaustively through news such as Successful Farming, RDO Equipment Co and Country Guide. Successful Farming shared that Hagie Manufacturing was acquired by John Deere. RDO Equipment Co shared that Hagie’s product line is expected to develop and become more popular among producers. Their line includes a ray of sprayers that have near perfect back to front weight distribution and all-wheel steering. Country Guide shared that owner of Hagie John Deere plans on incorporating Hagie sprayers into its own product range while still allowing the brand to sell under its original name. This strategy failed because no financial data was provided by these news sources.

Thirdly, we searched the company’s websites for annual reports and press releases. We did not find annual reports however, we found a product catalogue that included their custom solutions. We also searched on their website for press releases. In one press release, it shared that full season applicator is available and that they are taking orders for a limited production build of the STS16. Another press release shared news on the appointment of a new Chief Financial Officer. In another press release, information was shared on the company’s partnership with Family Farms Group. The partnership was to connect progressive family farms with state-of-the-art application solutions. Altogether, the information was not publicly available. We believe this is because it is because Hagie Manufacturing is a private company.

SUMMARY OF FINDINGS

Hagie Manufacturing Co. which is based in Clarion, Iowa, United States, was founded in 1947. The company is believed to have between 201 and 300 employees. Hagie is a private company that makes an estimated $25.9 million in revenue annually. Hagie Manufacturing Co. is one of the leading companies providing innovative solutions in the agriculture industry. This company's autonomous/self-propelled sprayer machine was designed to identify weeds and spray them with appropriate quantity of weed killer. They use weed killer to eliminate weeds through its spraying propeller machine, whereas FarmWise removes the weeds by digging them up. FarmWise and Hagie Manufacturing Co. machines are both autonomous with special ability to identify weeds.

Franklin Robotics, which is based in Billerica, Massachusetts, United States, was founded in 2015. The company has an estimate 1 – 10 employees and received a total of approximately $1 million in funding. In addition, make an estimated $1 million in annual revenue during the last reporting period. Franklin Robotics company develops smart and autonomous robots to solve the problem of weeds in agriculture. Also, this company's autonomous weeding robots are solar powered and programmed to identify weeds and to remove them appropriately. It also has special ability to avoid plants and obstacles while looking for weeds to eliminate. Similar to FarmWise machines, Franklin Robotics machines are also made with special elements and a variety of sensors to avoid plants and obstacles while looking for weeds to eliminate. Also, both company products help to save time and maximize productivity.

These findings have been outlined on the attached spreadsheet.

Part
03
of three
Part
03

Farms in the U.S.

According to our research, 8,968 crop farms in the US are 5,000 acres or more and could benefit from an autonomous weeding machine similar to FarmWise. Also, there are 253 such farms in California alone. See below for our methodology and detailed findings.

METHODOLOGY

We started by looking for the latest US Census of Agriculture. However, we discovered that the most recent available version is from 2012. The 2017 one will be released in 16 days. Since the available government data is outdated, we decided to search through agriculture media sites and databases, as well as industry reports and major business and news sites.

We came across the US Farm Data database. Their search engine allows searching farms by size, geography, and crop. It provides the total number of farms that fit the criteria. According to the "Who we are" page on the website, their database includes over 2 million farms. At the same time, the United States Department of Agriculture's report states that there were around 2.05 million farms in the US in 2017, which confirms that US Farm Data includes accurate estimations.

To ensure that the number only includes farms that fit the requirements, we chose the following criteria:

  • Acre size: 5,000+
  • Crops: alfalfa, corn, forage, grain, melons, seeds, soybean, wheat, rice, podded vegetables, brassicas vegetables, fruiting and flowering vegetables, bulb and stem vegetables, roots tuberous vegetables, leafy and salad vegetables, berries, oats, tobacco, cotton

Additionally, to come up with the number that is specific to California, we simply chose the state from the list.

Please note that it was impossible to provide links to search results. Therefore, we created a Google doc with screenshots.

FINDINGS

UNITED STATES

Out of 2.05 million farms in the US, 8,968 are 5,000 acres or more and would benefit from an autonomous weeding solution (screenshot). There is a decline in the number of large farms, but their acreage is growing. In 2015, 51% of total farm production could be attributed to large farms.

CALIFORNIA

Out of 77,500 farms in California, 253 are 5,000 acres or more and would benefit from an autonomous weeding solution (screenshot). However, it is worth noting that California is mostly known for crops that don't fit the criteria of this research, such as various types of fruits and nuts.
Sources
Sources