AgTechLogic
About this raise: AgTechLogic, with a valuation of $6 million, is raising funds on StartEngine. The company is developing and accelerating precision agriculture technology to improve growing food. The technology will also help in protecting the resources, reducing the amount of herbicides, and increasing the profitability of farmers. The advanced sensor technology of AgTechLogic reduces chemical usage by up to 90%, thus impacting farmers’ profits, soil health, and food insecurities. Thomas Gauthier founded AgTechLogic in September 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $1,070,000. The campaign proceeds will be used for research and development, app development, and expansion.
Investment Overview
Invested : $124,349
Deal Terms
Total Commitments ($USD)
- Platform
- StartEngine
- Start Date
- 11/01/2021
- Close Date
- 04/27/2022
$10,000
$1,070,000
$300
Equity - Common
Pre-Seed
RegCF
$5.00
$6,000,000
Company & Team
Company
- Year Founded
- 2021
- Industry
- Farming & Agriculture
- Tech Sector
- Distribution Model
- B2B
- Margin
- Medium
- Capital Intensity
- High
Financials
-
Revenue
- $31,095
- Monthly Burn
- $2,560
-
Runway
- 12.7 months
- Gross Margin
- 55%
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Company Funding & Growth
Funding history
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/27/2022 | StartEngine | $6,000,000 | $124,349 | Equity - Common | Funded | RegCF |
Founder Profile
AgTechLogic Founder Tom Gauthier on Making Farming Smarter and More Sustainable
Food demand is expected to increase substantially over the next 28 years due to an increased population and climate change. While herbicides can play an important role in improving crop yield, they can also cause pollution and potentially exacerbate the issue. Finding a balance between protecting crops and protecting the environment is becoming more essential than ever.AgTechLogic is working on a smart technology solution that can reduce the use of chemicals while still helping crops grow. Its technology can detect weeds and deploy chemicals only where necessary, as opposed to spraying chemicals over a broad area. We reached out to co-founder and CEO Tom Gauthier to hear more about AgTechLogic’s beginnings and future plans.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.Â