BinSentry has raised $50 million in a Series C round led by Lead Edge Capital to accelerate its global expansion, according to a company-issued press release.
The Canadian agtech firm develops AI-powered sensors and software that track on-farm feed levels in real time, aiming to reduce waste and prevent shortages. Its technology, already used by companies such as Cargill, Wayne-Sanderson Farms and Hanor, currently monitors more than 40,000 bins across North America and Brazil.
Cargill recently became the exclusive distributor of BinSentry’s platform in Brazil, strengthening the company’s foothold in the region.
As part of the funding, former Dell executive Paul Bell will join BinSentry’s board of directors.
Lead Edge Capital principal Aaron Darr said the firm sees BinSentry as a strong example of agtech innovation with “real customer traction using AI, real-time data, and automation to solve critical problems.”
Click here to see more...