John Deere will acquire Bear Flag Robotics, an agriculture technology startup that develops self-driving technology compatible with existing machines.
The $250 million deal "accelerates the development and delivery of automation and autonomy on the farm and supports John Deere's long-term strategy to create smarter machines with advanced technology to support individual customer needs," according to a news release.
“Deere views autonomy as an important step forward in enabling farmers to leverage their resources strategically to feed the world and create more sustainable and profitable operations,” said Jahmy Hindman, chief technology officer at John Deere.
He said Bear Flag had proven it could deliver advanced technology solutions to market. Bear Flag has been part of Deere's Startup Collaborator program since 2019.
The program was launched to enhance Deere's interaction with startup companies whose technology could add value for John Deere customers.
“One of the biggest challenges farmers face today is the availability of skilled labor to execute time-sensitive operations that impact farming outcomes. Autonomy offers a safe and productive alternative to address that challenge head on,” said Igino Cafiero, co-founder and CEO of Bear Flag Robotics.
Bear Flag will remain in Silicon Valley.