On May 4, 2021, Precision AI completed its $20 million financing round consisting of seed equity capital and grant funding. The startup’s first external capital raise was co-led by At One Ventures and the Industrial Innovation Venture fund of BDC Capital and included participation from Fulcrum Global Capital and Golden Opportunities Fund. The grant funding included investments from Sustainable Development Technology Canada and Protein Industries Canada. The funding will be used to advance Precision AI’s farming platform which uses drone-based technology to target individual weeds in row crop farming.
Precision AI is a Saskatchewan-based company focused on using artificially intelligent drones to provide fully autonomous farming.
At One Ventures is an investment firm focused on early-stage investments in companies using disruptive deep technology while reducing their planetary footprint.
BDC Capital is a venture capital firm specializing in helping entrepreneurs grow successful companies.
Osler, Hoskin & Harcourt LLP advised At One Ventures and BDC Capital in the first closing and Precision AI in the second closing, with a team consisting of Chad Bayne (Emerging and High Growth Companies), Jacob Young, and Lindsay Hofer (Corporate).