Vincennes ag-tech startup completes funding round
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
An ag-tech startup headquartered in Vincennes has closed on an oversubscribed $375,000 fundraising round it says will help bring its artificial intelligence-driven product to market.
TerraForce has developed a robotics platform designed to help watermelon and pumpkin farmers harvest their crops with minimal waste.
Founded in 2024 out of The Pantheon, a nonprofit business accelerator in downtown Vincennes, TerraForce said the “overwhelming” interest from investors highlights an urgent need for innovative solutions in agriculture.
“This oversubscribed round and presales of our recurring services serve as a powerful validation of our vision to reshape the future of farming,” Founder and CEO Mike Jacob said in a news release. “Farmers are seeking reliable, efficient, and data-driven solutions to their labor and productivity challenges, and this funding accelerates our development and expands our impact.”
TerraForce said its platform helps address a major labor shortage being felt in agriculture. The startup’s AI-powered robotic systems operate 24/7 and uses sensors and data algorithms to identify and pick ripe large fruits when they are ripe.
Jacob said the company’s product is set to launch for the 2025 harvest season, and the funding round is helping to achieve that goal.
TerraForce currently has two full-time employees and one part-time employee. The funding round will allow the company, Jacob said, to add three engineering positions, one of which has already been filled.