Aker Secures Funding from Institutional Investors to Advance its TrueCause™ Technology

St. Louis, MO (August 27, 2019) – Today, Aker Technologies announced it has secured an investment of $2.6 million in new equity financing. The funding will be used to advance its TrueCause™ technology, an autonomous crop-scouting platform. TrueCause™ and the Aker Pest Network™ provide growers, suppliers, and ag retailers with under-the-canopy disease and pest crop diagnostics to measure the effectiveness of inputs and drive efficient in-season crop management practices.

The financing was led by Lewis & Clark Ventures, with co-investors Flyover Capital and Central Illinois Angels.

“We are delighted to welcome investors who recognize the innovation gap in an increasingly variable climate environment and the potential of our technology across the industry,” said Orlando Saez, Co-Founder & CEO of Aker Technologies. “Our team is excited to have a close relationship with the Donald Danforth Plant Science Center to accelerate evidence-based field monitoring practices, along with new input and trait development.”

Efficient management of inputs and water to boost crop yield on existing acreage is the foremost challenge in sustainable production agriculture.

“We have seen a lot of startups building crop observation via remote sensing technologies and predictive crop models, but nothing as innovative as Aker’s technology to automate the process of crop scouting under the canopy,” said Lewis & Clark Ventures Principal Larry Page, PhD. “We were particularly impressed with Aker’s early traction with some large agriculture brands, which indicates that they are addressing a real need for growers and retailers.”

“What Aker has accomplished is unlike anything we’ve seen in the AgTech industry,” said Flyover Capital General Partner, Keith Molzer. “We are excited to partner with Aker and Lewis & Clark and see Aker as a great example of the opportunities that early-stage technology companies are creating in Flyover Country.”

Aker Technologies was founded in 2016 with a vision to enable practical tools for growers to improve input cost and efficiency. Aker operates a nationwide crop diagnostic and logistics infrastructure supporting ag retailers and suppliers with validation of crop protection inputs, seed development, and better recommendations with higher ROI for threats impacting yield.

As part of this investment, Aker moved its primary offices to St. Louis to grow the team, work more closely with large agriculture accounts, and continue its research and development efforts with a recently awarded research grant the from Wells Fargo Innovation Incubator (IN2) in collaboration with the Danforth Plant Science Center and co-administered by the National Renewable Energy Laboratory (NREL).

About Aker Technologies Inc.

Aker helps growers drive higher crop yields to maximize profitable and sustainable in-season decisions. Aker advances crop diagnostics with patented technology that automates the process of “crop scouting” by detecting disease, pests, crop damage and other environmental stresses UNDER the crop canopy, at scale. Aker offers county and local, pest and pathogen alert data and map services through subscription and in-field crop scouting services on demand. All data is real observed geo-referenced data, not inferred or approximated by current crop models or predictive analytics alone. For more information, visit www.aker.ag.

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