Greenzie, an autonomous software company for commercial lawn mowers and outdoor power equipment, closed an $8 million corporate strategic round. This was the company's largest equity raise yet, and it was led by Atlanta Ventures and including a strategic investment by Bobcat Company.
Greenzie's Robotic Ready program gives manufacturers the ability to upfit mowers with autonomous mowing functionality.
"We are thrilled to close our largest round yet and include strategic investments by a strong partner like Bobcat," said Charles Brian Quinn, Greenzie CEO and co-founder. "Atlanta Ventures invested again to lead this round and many existing investors, including myself, continue to believe in what the tremendous team at Greenzie is capable of."
Because Greenzie focuses exclusively on software, the business model is less capital intensive than other competitors. The additional $8 million raised in capital will allow Greenzie to grow its engineering team and to add additional manufacturers to the Robotic Ready program. It will also continue to grow its fleet of robotic workers already deployed with customers in the field.
"Greenzie has tremendous growth ahead and the noble mission of freeing humans from repetitive outdoor labor," said David Cummings, founder and partner, Atlanta Ventures. "Atlanta Ventures is excited to lead Greenzie's strategic round and to continue to back this promising technology startup as it grows."
Greenzie partners with manufacturers, working alongside them to incorporate the autonomous mowing software onto their established mowing platforms. Greenzie does not compete to sell its own hardware or physical mower. The strategic investment by Bobcat will help further boost these relationships across the industry. In the future, Greenzie's autonomous software could also be applied to adjacent industries such as a construction and mining.
"Innovation is part of the Bobcat DNA. We invented the compact equipment industry more than 60 years ago, and we continue to reimagine the future of the industry today," said Joel Honeyman, vice president of global innovation for Bobcat Company. "Through this investment with Greenzie, we can accelerate our development of operated-assisted and automated solutions to help our customers be more productive on the jobsite or their backyard."
Wright Manufacturing and Mean Green Mowers are inaugural members of Robotic Ready with other OEMs coming online this year.