AgFunder is among the investors which have exited the agricultural robotics developer, which has been bought by AppHarvest.
Agriculture-focused media, data and investment firm AgFunder has exited US-based agricultural robotics developer Root AI in an acquisition by large-scale greenhouse operator AppHarvest in a deal sized at about $60m.
The transaction consisted of approximately $10m in cash and the rest in the form AppHarvest shares. Josh Lessing, co-founder and CEO of Root AI, will become AppHarvest’s chief technology officer and its 19 full-time employees are all expected to join the acquiring company.
Root AI has developed a harvesting robot…
