Agritech firm Autogrow is splitting its company into two separate entities, one of which will concentrate on farming solutions through artificial intelligence.
Autogrow and a new digital farming company called WayBeyond will start trading as separate, privately held companies as of February 1.
WayBeyond, headed by CEO and founder Darryn Keiller, will tailor digital farm solutions that increase productivity for large and multi-site farms.
Its solutions include FarmRoad, a crop management platform that is currently being used through an AI-based yield prediction service; and the Folium Wireless Smart Sensor Network.
“It's a fantastic opportunity and one I'm proud to have brought to fruition - the growth of an existing business in Autogrow and the creation of a new and transformational one in WayBeyond,” says Keiller.
“A journey like this is a team sport, with a highly talented team, committed investors, and government and industry collaborators; the dream has become a reality.
Autogrow, managed by acting general manager Rod Britton, will focus on the small to medium grower market through automation and control business. Its range includes automation products such as Intelli Range and the MultiGrow.
“With two distinct product offerings and two vastly different customer bases; we are now in the position to separate and allow both companies the opportunity for further growth,” adds Keiller.
“One of our early commitments to transforming the industry, is that everything we develop will be open, interoperable, and truly agnostic. Working with anyone in the industry's large ecosystem, whether they be an ally or competitor, a software, services or hardware provider; the launch of WayBeyond makes that promise a reality.
AutoGrow will include a core team of employees, while WayBeyond will leverage employees who were hired to work on the FarmRoad and Folium solutions. Both businesses plan to hire more employees in the future.
Keiller says his focus will be to create shareholder value for WayBeyond's growth, including enterprise customers in Australia, the United States, the United Kingdom, and Europe.
“Today WayBeyond sits inside horticulture but the potential for some of our applications and the intelligence of our systems will extend themselves beyond to agriculture, with potential for other industry sectors.
“The vision of WayBeyond is to transform the agricultural industry to produce food sustainably for everyone on the planet. It is a big challenge but worthwhile and will include aligning with the United National Sustainability Development Goals; ensuring our solutions consider the impact on food, the environment and people.”