Resson Aerospace raises $14M in Series B funding from Build, Rho, NBIF, BDC Capital and others

June 22
13:38 2016

Fredericton-based agriculture technology company Resson has secured about $14 million (US$11 million) in a Series B round led by Monsanto Growth Ventures, the venture capital arm of U.S. agriculture multinational Monsanto. Resson’s existing Canadian investors who also participated in the round include Build Ventures, Rho Canada Ventures, New Brunswick Innovation Foundation (NBIF), BDC Capital and East Valley Ventures.

Rho Canada Ventures and Build Ventures, with participation of BDC Capital, NBIF, and private investors, led Resson’s $3.025M round in October 2014.

Resson, a developer of technology that uses cloud-based predictive analytics together with drones and swarm robotics to help improve agricultural productivity, will use the funds to expand its product development, sales, and marketing activity. Resson will also be adding staff to its technical development team in Frederiction and also has plans to open an office in San Jose, California.

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