Fredericton’s Resson Aerospace, a bioinformatics and data analytics company, announced today that it raised $3 million in venture capital funding led by Rho Canada Ventures and Build Ventures.
Other investors include BDC Capital, New Brunswick Innovation Foundation and private investors.
Resson Aerospace launched its solution for large-scale agricultural companies in 2013, and quickly built relationships with some of largest producers in the world.
The company’s Resson Agricultural Management and Analytics System (RAMAS) integrates large-scale cloud-based data analytics with sensor fusion and robotic platforms to provide agricultural producers with an unequalled view of crop production and field conditions.
“We help major food producers operate more efficiently to maximize production and profits,” said Peter Goggin, CEO and Co-Founder of Resson Aerospace. “We are already working with some of the largest agricultural companies in the world. With this funding we can accelerate our technology, hire key staff and continue to lead this emerging space.”
Rho Canada Ventures has been following the company since its earliest days. “We are impressed by the traction Resson Aerospace earned with some of the biggest names in agricultural production. With this funding, they can bring more new technology to the market to improve the efficiency and profitability of their customers,” said Jeff Grammer, Partner with Rho Canada Ventures.
“Food production is a multi-trillion-dollar global business. In a short period of time, Resson Aerospace has emerged as leader in using technology to improve crop yields. With a smart team and a strong product plan, they have a bright future ahead,” said Rob Barbara with Build Ventures.