Rantizo, a prominent operator network for spray drone services, revealed today that it is broadening its already oversubscribed Series A funding round. This expansion, spearheaded by Leaps by Bayer alongside Fulcrum Global Capital and Innova Memphis, is set to further the firm's new growth strategy.
The company's primary objective is to cultivate a service network that employs automation within the agricultural sector, beginning with drone spray services.
"We aim to increase our operator network throughout the nation, launch our work management and as-applied map software, and persist in our rapid growth concerning acres treated," shared CEO Mariah Scott.
Rantizo's achievements are already noticeable as it has successfully doubled its acres flown year over year. The firm boasts operators spread across 30 states. Furthermore, over 20% of the leading 50 agricultural retailers collaborate with Rantizo operators. These operators use drones for precision farming on diverse crops such as Arkansas rice, Iowa corn, Oregon hops, and Idaho potatoes. This advanced approach allows agricultural retailers to offer more extensive services to growers.
Kevin Lockett, Partner at Fulcrum Global Capital, highlighted the broader impact of the company's work. He stated, "The prevailing sentiment in agriculture is the necessity to achieve more with fewer resources. Autonomy stands out as the future of contemporary agriculture. Rantizo's superior software platform, expansive drone operator network, and seasoned management team not only bolster the budding 'spraying-as-a-service' domain but also uplift the whole agricultural automation industry."
Interestingly, up to 60% of agricultural retailers identify workforce availability as a primary operational challenge. Embracing and integrating new technology also stands out as a top concern. Rantizo addresses both these issues with its vast operator network, superior drone services, and comprehensive job management software.
Jan Bouten, Partner at Innova Memphis, commented on Rantizo's approach, stating, "Rantizo's method of tackling farmers' challenges by smoothly incorporating drone services into present workflows aligns impeccably with our FarmTech-focused fund."
Simplot's Regional Operations Manager, Jordan Hart, also praised Rantizo's contributions, noting how drones from Rantizo ensured crops received necessary inputs even under unfavorable conditions. He added, "We're keen on furthering our current accomplishments and expanding this partnership throughout more regions."
CEO Mariah Scott's leadership has been instrumental in Rantizo's growth trajectory. Under her helm, the acres treated for Simplot surged threefold this year. Prior to Rantizo, Scott led Verizon Robotics and played a pivotal role in Verizon's acquisition of Skyward, a drone management enterprise. Scott's influence at Rantizo has been transformative, with the induction of a seasoned executive team possessing vast expertise across various domains, from software and drones to agriculture and finance.
PJ Amini, Sr. Director at Leaps by Bayer, concluded by expressing enthusiasm about Rantizo's revamped leadership, noting, "The team possesses the essential depth and diversity in expertise across drones and agriculture to proficiently launch the service and realize the strategic vision."