Smart Ag, a US-based farm equipment automation technology supplier backed by agriculture products company Stine Seed, has been acquired by precision agriculture technology firm Raven Industries for an undisclosed sum.
Founded in 2015, Smart Ag has created a group of technologies that can be installed on existing farm machinery such as tractors and grain carts to add automated and internet-of-things functionality which can then be controlled via cloud-hosted software.
Raven Industries will market the products through its newly-established Raven Autonomy division, which focuses on autonomous-enabled precision agriculture technologies, having previously acquired diesel agricultural aid developer Dot Technology for the same purpose in October 2019.
Smart Ag’s development team and network of product dealers will also move over to Raven with the acquisition. Stine Seed had supplied Smart Ag with $5m of funding in June 2018.