CNH Industrial acquires Augmenta
Pymwymic is proud to announce that portfolio company Augmenta, a pioneer in precision agriculture technologies, has been acquired by CNH Industrial for $110 million. This deal will position Augmenta to continue leading the charge in sustainable agriculture solutions, bringing cutting-edge automation and analytics to farmers worldwide.
Founded in 2018, Augmenta’s mission is to transform global agriculture through automation and autonomy. By placing the farmer at the centre of its product and feature development, the company’s advanced technology – the Augmenta Mantis – has helped farmers worldwide make the most out of every acre in an environmentally sustainable way; reducing inputs whilst increasing yields. Since the beginning, Augmenta has been working closely with CNH Industrial and its subsidiary, Raven. This strategic partnership was further strengthened in 2021 when both CNH Industrial and Pymwymic became shareholders in Augmenta.
After two years of close collaboration, Augmenta and CNH Industrial agreed that joining forces under CNH Industrial’s ownership would significantly accelerate Augmenta’s vision and mission. As part of CNH Industrial’s precision technology portfolio, Augmenta will strategically integrate into Raven while retaining its employees in the US and Greece. This integration will amplify Augmenta’s impact and enable CNH Industrial to offer seamless technological solutions in its farm input automation vertical.
“We are extremely excited to become part of CNH Industrial and Raven, and continue building together deep technological solutions that enable a more sustainable future for farmers of all sizes, as well as the environment.”
George Varvarelis, Augmenta CEO
Having joined Pymwymic’s Healthy Ecosystems Impact Fund I in 2021, Augmenta has grown to more than 50 employees servicing clients across four continents. This acquisition is a testament to the potential of Augmenta’s technology to expand into new products, crops and geographies as farmers around the world come to realise the intrinsic value of Augmented Farming.
“This partnership showcases the immense potential of Augmenta’s team and technology and the power that impact guardianship can have in catalysing company value. We’re proud to have supported their journey and look forward to following their story.”
Rogier Pieterse, Pymwymic Managing Partner
Read the press release here.
For questions, please contact Rogier Pieterse at rogier@pymwymic.com
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