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4AG Robotics, a manufacturer of autonomous harvesting technologies, has successfully closed a CAD $40 million (approx. $29 million) Series B funding round, aimed at accelerating the adoption of its robotic systems in the mushroom farming sector.

The round was led by Astanor and Cibus Capital, with participation from Voyager Capital and existing investors including InBC, Emmertech and the BDC Industrial Innovation Fund. This latest round brings the total capital raised by the company to CAD $57.5 million over the past two years.

The funding comes at a pivotal moment for 4AG Robotics, which has seen its robotic harvesting platform deployed in key markets such as Canada, Ireland and Australia, with plans to expand into the Netherlands and the US.

CEO Sean O'Connor highlighted the significance of this investment: “This funding helps us leap from a start-up proving our product works to a scale-up manufacturer trying to keep pace with demand”. The company's technology has already garnered deposits for over 40 additional robots, highlighting strong market interest.

4AG's autonomous system employs artificial intelligence and advanced robotics to harvest mushrooms continuously, reducing reliance on manual labour. The robots are designed to integrate seamlessly with existing Dutch-rack infrastructure, offering growers a solution that enhances operational efficiency while maintaining product quality.

COO Chris Payne noted the importance of real-world applicability, adding: “What sets us apart is our ability to deliver commercially successful automation in complex farm environments”.

The global mushroom market, projected to exceed $70 billion by 2030, faces significant challenges, including labour shortages and rising production costs. Harvesting can account for up to 50% of these costs, necessitating innovative solutions. 4AG's robots provide a potential pathway for growers to maintain competitiveness without overhauling their existing operations.

Investors Astanor and Cibus Capital expressed confidence in 4AG's potential to transform the agricultural landscape. Harry Briggs from Astanor said: “We believe that mushrooms are the most poised for robotic solutions...4AG could be at the forefront of the transformation of agriculture through AI and robotics”.

With the new capital, 4AG Robotics plans to expand its manufacturing capabilities, enhance customer support services and accelerate the development of next-generation features, including disease detection and AI-driven yield optimisation.

Michelle Lim, VP of Growth at 4AG, articulated the company's vision, stating: “We’re not just building robots – we’re building a new operating system for the mushroom industry”.

Featured image: A 4AG Robotics mushroom-picking robot in the middle of its harvesting process. | © 4AG Robotics.