Future Acres
Testing the Waters
Early Stage
Autonomous farm tools of tomorrow
Overview
Raised: $341,333
Total Commitments ($USD)
Platform
SeedInvest
Start Date
02/23/2021
Close Date
Testing the Waters
Min. Goal
Funded
Max. Goal
Funded
Min. Investment
$1,000
Security Type
Equity - Preferred
SEC Filing Type
Test the Waters
Price Per Share
$1.66
Pre-Money Valuation
$7,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/30/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$5,988
Momentum
Funded
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Year Founded
2017
Industry
Farming & Agriculture
Tech Sector
AgriTech
Location
Santa Monica, California
Future Acres, with a pre-money valuation of $7 million, is testing the waters on SeedInvest through Reg A+ crowdfunding. The company is developing an autonomous farm tool called Carry. Carry finds rows, goes to pickers, waits for the crop to be loaded, and transports the load from the rows to their destination. Suma Reddy founded Future Acres in 2017 and has raised over $500,000 in previous rounds of financing. The current crowdfunding round has a minimum raise of $500,000 and a maximum raise of $3,000,000, and the funds will be used for product development, payroll, marketing, and general and administrative expenses. Future Acres is backed by Wavemaker Partners, a global venture capital company, and led by an experienced and passionate team.
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Future Acres | 05/05/2023 | Dalmore Group | $9,861,993 | $67,801 | Equity - Common | Funded | RegA+ |
| Future Acres | 10/10/2021 | SeedInvest | $7,000,000 | $1,518,618 | Equity - Preferred | Funded | RegA+ |
| Future Acres | 04/21/2021 | SeedInvest | $7,000,000 | $341,333 | Equity - Preferred | Funded | Test the Waters |
| Hitch Robotics | 02/17/2020 | SeedInvest | $10,000,000 | $0 | Convertible Note | Not Funded | RegCF / RegD 506(c) |
| Hitch | 11/25/2019 | SeedInvest | $10,000,000 | $206,000 | Convertible Note | Not Funded | RegCF / RegD 506(c) |
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