Farmwave is the latest company to be added to the Ag Startup Engine portfolio, a premier seed program for agricultural startups.
Ames, IA | December 07, 2022 - Farmwave is the latest company to be added to the Ag Startup Engine portfolio, a premier seed program for agricultural startups. As a new addition to the portfolio of companies, Farmwave will continue building out the business and functionality of their product with additional funding through the ASE and their investors.
"We're excited to be part of the growing community and relationship that ASE brings to Farmwave. We look forward to expanding those relationships with our own connections around the world and adding value as a leader in artificial intelligence in the agriculture industry," says CEO and Founder Craig Ganssle.
Farmwave brings a simple and straightforward approach to monitoring and managing mechanical harvest loss. Through their AI software, the company has developed a system of cameras that are mounted on the combine in three specific locations to continuously monitor mechanical yield loss. The cameras, which are counting losses every three to five seconds, allow an operator to make adjustments as needed such as change the pace of harvest, change their tilt headings, or make mechanical alterations. Each individual operator can set their own threshold to allow optimal readings while going through a field.
As one of the newest companies to the Ag Startup Engine, Joel Harris, Executive Director, was excited to share how the original conversations took place.
"We were introduced to Craig at Farmwave in June of 2022. After several months of diving into the business and value proposition, we asked Craig to pitch to our investor members this past September. We're excited to work with Craig and his team at Farmwave."
Following a successful show at the 2022 Farm Progress Show in Boone, the pieces fell into place quickly for the partnership.
"What intrigued me about Farmwave was the simplicity of the value proposition to farmers. We see a lot of technology looking for a problem but the Farmwave team found the problem and built some very impressive technology to solve it," says Colin Hurd, Co-Director for the Ag Startup Engine. "From a technology perspective what is impressive again is the simplicity, because it is not going to be hard for farmers to install and use which should drive meaningful adoption quickly," he adds.
To learn more about Farmwave, or to invest in future portfolio's, please visit https://www.agstartupengine.com/.
About Farmwave: Farmwave spent eight years focused on Research and Development prior to launching for commercial use. Founded by CEO and Founder, Craig Ganssle, the company utilized AI software to measure mechanical harvest loss. The company's current focus has been corn and soybean yield loss and was beta tested on 12 farms in 2022 with plans to launch the first commercial production season in 2023.
Ag Startup Engine was launched five years ago to help address two fundamental gaps that prevent agricultural startups and entrepreneurs from being more successful: early seed-stage investment and organized mentorship from successful entrepreneurs. The program recently announced closing of their second fund with the goal to accept and invest in 45 agriculture and animal health startups in the next five years.