Smart Ag secures $5 million investment from Stine Seed for driverless tractor technology

Largest private seed company in United States makes investment in Smart Ag and the first platform for autonomous agricultural machinery

(Ames, Iowa – June 14, 2018) – Stine Seed Farm Inc, an affiliate of Stine Seed Company®, the largest independent seed company in the United States, has invested $5 million in Smart Ag Inc., an Iowa technology firm that has revolutionized automation in agriculture with the development of a full stack software platform and aftermarket kit for driverless tractors. The Stine Seed investment In Smart Ag’s Series Seed Round comes just five short months after Smart Ag unveiled its technology with the release of AutoCart®, a software application that fully automates a grain cart tractor for use during harvest.

Founder and CEO of Smart Ag, Colin Hurd, said the value of the Stine Seed investment extends beyond the financial aspects because of Stine Seed’s reputation for innovation, technology and putting farmers first.

“One of the true champions for American agriculture is Harry Stine – someone recognized globally for his dedication to discovering new technologies and utilizing science to make farming more profitable,” Hurd said. “This investment from Stine Seed represents their belief in what we’re doing at Smart Ag to address the issues of labor, profitability and productivity for today’s farmer.”

The AutoCart application provides a solution to one of the biggest challenges facing every farmer – critical labor shortages during harvest. Smart Ag’s driverless tractor technology is the first step towards “enabling perfect operation of farm equipment”.  AutoCart performs the same function as a driver, only it is safer, and more reliable and sustainable.

“We believe Smart Ag is an excellent investment for us because of their dedication to help farmers increase the productivity and profitability of their operations through innovation and technology,” said Stine Seed CEO and founder, Harry Stine. “Agriculture has always been about the development and application of new ideas. We are pleased to be on the forefront of this and see the value in the technology for our own seed production and farming operations.”

Over two years in development, AutoCart, along with the tractor automation kit, is a plug-and-play system that automates existing grain cart tractors. The cost of the system is comparable to retrofitting a sprayer or planter with precision technology. The AutoCart technology is available on a first-come, first-serve basis, more information can be found on the Smart Ag website: www.Smart-Ag.com.

ABOUT SMART AG

Based in Ames, Iowa, Smart Ag is an investor-backed technology company developing autonomous farming solutions for row crop agriculture. The company was founded in 2015 and has raised money in the past from The Ag Startup Engine, Ag Ventures Alliance, Summit Agricultural Group, Iowa Farm Bureau Rural Vitality Fund II and several other angel investors. Smart Ag is currently offering aftermarket retrofit kits to automate farm equipment, as well as a commercial grade platform to connect, manage, and safely operate any variety of autonomous machinery. Smart Ag is led by successful ag entrepreneur Colin Hurd and former John Deere ISG and Ag Leader Manager Mark Barglof. For additional information, go to www.Smart-Ag.com.

ABOUT STINE SEED FARM, INC.

As the nation’s largest independent seed company, Stine Seed Farm, Inc., headquartered near Adel, Iowa, is focused on developing and marketing the world’s best-performing corn and soybean seed through its retail arm, Stine Seed Company. Stine Seed Farm, Inc., operates the industry’s largest corn and soybean breeding and development program, advancing and testing nearly 1 million unique soybean varieties and more than 100,000 preliminary corn hybrids annually. For nearly five decades, Stine’s soybean research program has been regarded as the soybean genetics supplier of choice to the seed industry. For more information, call toll-free (800) 362-2510 or visit the website at www.stineseed.com.

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