CNH Industrial Acquires Augmenta

Augmenta, an agricultural technology company, announced that it has been acquired by CNH Industrial for $110 million. CNH Industrial will continue to collaborate with the Augmenta team and will make Athens an innovation center of CNH Industrial. CNH Industrial is a company that includes many leading brands in agricultural and construction equipment, technology, services worldwide. These companies include Case IH, New Holland Agriculture and Steyr. They previously led Augmenta's $8 million Series A round.

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CNH Industrial Acquires Augmenta for $110 Million

Dimitris Evangelopoulos and George Varvarelis met at an engineering school. Due to their agricultural background, they realized the need for a more efficient fertilization system for crop management. Therefore, together with Katerina Karakoula and Dimitris Akridas, they decided to develop a more efficient fertilization system. The Augmenta system scans every square centimeter using high-resolution cameras as the tractor plows the field. It then uses machine vision technology to determine the condition of the plants. And it controls the sprayer to apply the precise amount of chemical needed for each centimeter. This software system can be easily adapted to existing agricultural equipment.