Alumni’s AgTech startup secures $3.5M to fund its growth

Monday, June 3, 2024

Waterloo-based startup IntelliCulture has secured $3.5 million in funding to grow its agricultural technology business and improve its platform for high-yield crop growers.

The company was co-founded in 2018 by a trio of Waterloo Engineering alumni — Ramin Shaikhi (BASc ’16, MASc ’19, mechanical engineering), Michael Wu (BASc ’19, mechatronics engineering) and Cole Powers (BASc ’19, mechanical engineering). Its software helps farmers plan and track their operations with greater efficiency and compliance.

IntelliCulture’s customers are growers of high-value crops, such as those operating vineyards, orchards, and fruit and vegetable crops, areas that “haven’t typically been touched a whole lot from a technology standpoint,” said Powers, CEO of IntelliCulture, in a media interview.

Through linked devices that are compatible with a variety of farm machinery, the platform collects data to help these growers track critical activities such as harvests and sprays, plan equipment maintenance and labour needs, and stay compliant with industry and safety regulations.

The company currently serves over 100 customers including a few Fortune 500 growers such as Constellation Brands. This latest funding round was led by Serra Ventures with participation from previous investor Emmertech and a new backer Tall Grass Ventures.