FarmBit

FarmBit

An open marketplace that allows businesses to obtain working capital by discounting their trade receivables to investors.

  • Edit
DateInvestorsAmountRound
*

$240k

Seed
Total Funding000k

Financials

Estimates*

Get premium to view all results
Edit
Revenues, earnings & profits over time
USD20222023
Revenues00000000
EBITDA00000000
Profit00000000
EV00000000
EV / revenue00.0x00.0x
EV / EBITDA00.0x00.0x
R&D budget00000000

Source: Dealroom estimates

Notes (0)
More about FarmBit
Made with AI
Edit

FarmBot.io operates as a for-profit, open-source agriculture technology company, established as a California Benefit Corporation in July 2016. The genesis of the company traces back to a 2013 white paper by Rory Aronson, who was inspired to create more accessible farming technology after learning about million-dollar automated tractors during an organic agriculture course at California Polytechnic State University. Aronson began working on the project full-time in March 2014 with grant funding from the Shuttleworth Foundation and was later joined by co-founders Rick Carlino and Tim Evers. The company's first product, FarmBot Genesis, began preorders in July 2016.

The business centers on developing and selling open-source hardware kits for precision agriculture, targeting a diverse client base that includes home gardeners, educational institutions, and researchers. Revenue is generated primarily through the sale of these hardware kits and components. Future revenue streams are planned to include premium software add-ons and subscription services for commercial-scale operations. The company is built on a foundation of open-source principles, making its hardware designs, software code, and documentation freely available to encourage community-driven development and modification. This open-source nature is a core part of its competitive strategy.

FarmBot's main product is a robotic farming machine designed to function like a large 3D printer for agriculture. The device operates on a Cartesian coordinate system (X, Y, and Z axes) to perform tasks such as sowing, watering, and mechanical weeding with high precision. It is controlled via a web-based application, allowing users to manage their garden remotely from any internet-enabled device. The system utilizes a tool mount that can be fitted with various implements like seed injectors, watering nozzles, and sensors. All of the hardware is designed to be created with common tools and hobby-level 3D printers, and the electronics are based on a Raspberry Pi and an Arduino Mega. The platform is capable of growing over 30 different crops and can be used in various environments, including raised beds, greenhouses, and urban rooftops.

Keywords: open-source farming, precision agriculture, CNC farming, automated gardening, agritech, robotics, food sovereignty, STEM education, community supported agriculture, Rory Aronson, FarmBot Genesis, home gardening, urban farming, sustainable agriculture, open-source hardware, robotic farming, 3D printing agriculture, remote farming, soil sensors

Analytics
Unlock the full power of analytics with a premium account
Track company size and historic growth
Track team composition and strength
Track website visits and app downloads

Tech stack

Group
Tech stackLearn more about the technologies and tools that this company uses.
Book a Demo