India’s Mahindra leads Resson’s $14 mln Series C round


The logo of Mahindra & Mahindra Ltd is pictured on the pocket of a salesman's shirt as he poses inside the company's showroom in Mumbai August 13, 2013. REUTERS/Danish Siddiqui/Files
The logo of Mahindra & Mahindra Ltd is pictured on the pocket of a salesman's shirt as he poses inside the company's showroom in Mumbai August 13, 2013. REUTERS/Danish Siddiqui/Files

Resson, a Fredericton, New Brunswick-based provider of predictive analytics to the agricultural industry, has raised $14 million in a Series C financing. The round was led by Indian vehicle maker Mahindra & Mahindra Ltd, which joins existing strategic partners McCain Foods Ltd and Monsanto Co. They and Build Ventures, Rho Canada Ventures, BDC Capital, East Valley Ventures and New Brunswick Innovation Foundation also backed the Series C. Resson uses machine learning, big data analytics and computer vision to help growers of crops make better-informed decisions and increase productivity. Founded in 2013, the company is led by CEO Jeff Grammer.

Entrevestor‘s Peter Moreira interviewed Resson’s Jeff Grammer about the Series C financing. Check the story out here.

PRESS RELEASE

Mahindra & Mahindra Joins McCain Foods and Monsanto Growth Ventures As Strategic Partners in New Brunswick-Based Resson

FREDERICTON, CANADA (May 8, 2018) — Resson, a predictive analytics company for the agricultural industry, today announced a $14 million Series C up round of financing that welcomed Mahindra & Mahindra as a strategic partner, joining existing strategic partners McCain Foods and Monsanto Growth Ventures as well as existing investors Build Ventures, Rho Canada, BDC Capital, East Valley Ventures and the New Brunswick Innovation Foundation. Resson’s strategic partners and investors participated in this round of financing. The company previously received a $US 11 million Series B funding round in June 2016.

Resson uses machine learning, big data analytics and computer vision to help growers of crops like potatoes, spinach and grapes make better-informed decisions about crop management to increase productivity on their farms. Using cameras mounted on tractors or drones, the Resson Agricultural Management and Analytics System (RAMAS®) provides a dashboard view that delivers insights that help better manage yields, crop inputs and agronomy decisions.

Mahindra & Mahindra is the latest company to join Resson as a strategic partner. Headquartered in India, Mahindra & Mahindra is the world’s largest selling tractor company by volume, and the company boasts over 500 dealerships in North America. “Agriculture is an increasingly technology-intensive business, and Resson’s precision farming solutions will help growers get more yield from every acre,” said Rajesh Jejurikar, President, Farm Equipment Sector, Mahindra & Mahindra. “We are delighted to join McCain Foods Limited and Monsanto Growth Ventures as a strategic partner of Resson.”

Resson is actively working in partnership with McCain Foods and its team of agronomists to test and advance the Company’s technology in real life commercial potato farming environments. McCain Foods was Resson’s first customer and has been a hands-on strategic partner to the company from its earliest days. “McCain has a proud history of advancing agricultural practices in potato growing and we remain committed to this approach. Our desire for continual improvement fuels our ongoing drive to partner with leading edge technology companies such as Resson, to create breakthrough innovation in agricultural technologies and set new standards for efficient crop production,” said Max Koeune, President and CEO of McCain Foods Limited.

“Our strategic partners have been critical to the development of our technology and our rapid growth over the last two years,” said Jeff Grammer, CEO of Resson. “With the addition of Mahindra & Mahindra, we will expand our understanding of predictive analytics to maximize yields and profits for growers.”

ABOUT RESSON
Resson is a predictive analytics company that uses large scale data analytics and natural learning to help major agricultural producers create efficiencies to maximize production and profit margins. Find out more at www.resson.com

ABOUT MAHINDRA
The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 240,000 people across 100 countries.

http://www.mahindra.com

ABOUT MCCAIN FOODS LIMITED
McCain Foods (Canada) is the Canadian division of McCain Foods Limited, an international leader in the frozen food industry. McCain is the world’s largest manufacturer of frozen potato specialties, and also produces other quality products such as appetizers, vegetables, and desserts that can be found in restaurants and retail stores in more than 160 countries around the world. McCain employs approximately 20,000 people, operates 53 production facilities on six continents and generates annual sales in excess of $9 billion. In Canada, the company has eight production facilities, approximately 2,600 employees and in addition to its famous French fries and potato specialties, makes frozen desserts, snacks, appetizers and authentic Chinese entrées.
www.mccain.ca

Photo courtesy of Reuters/Danish Siddiqui

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