Fredericton-Based Resson reports raising $14 million CAD in a deal with Monsanto Growth Ventures, one of the largest deals for a startup in Atlantic Canada.
Backed by Ag giants like McCain Foods Ltd and others, Resson plans to use the funds in part to expand to Silicon Valley and continue to bring the Internet of Things to the agriculture sector.
Resson provides farmers with real-time data for maximizing crop yields using drones, robotics, sensors and analytics software to produce detailed imagery to benefit farmers’ decision making on the field.
It is important to have access to real-time data due to constantly changing weather conditions, including temperature, water levels and flooding, which can quickly alter the need for herbicide, pesticide and irrigation.
One of the advantages of precision Ag emphasized by Resson is that drones produce clearer imagery than satellites because they can fly below cloud cover and are more compact and efficient in general. Of course this means that regulators will have to clarify the rules surrounding the use of drones for collecting data, taking into account their new attributes. Federal legislation surrounding drone use in Canada is expected to be introduced in 2017, according to Unmanned Systems Canada.