Resson Aerospace Takes Flight With $3 Million In Venture Capital Funding

For Immediate Release

November 13, 2014

--Funding Round Led by Rho Canada Ventures and Build Ventures--

Fredericton, Canada—With customer interest growing rapidly, Resson Aerospace, a bioinformatics and data analytics company, announced today that it raised $3.025 million in venture capital funding led by Rho Canada Ventures and Build Ventures. Other investors include BDC Capital, New Brunswick Innovation Foundation and private investors.

Resson Aerospace launched its solution for large-scale agricultural companies in 2013, and quickly built relationships with some of largest producers in the world. The company’s Resson Agricultural Management and Analytics System (RAMAS™) integrates large-scale cloud-based data analytics with sensor fusion and robotic platforms to provide agricultural producers with an unequalled view of crop production and field conditions.

“We help major food producers operate more efficiently to maximize production and profits,” said Peter Goggin, CEO and Co-Founder of Resson Aerospace.  “We are already working with some of the largest agricultural companies in the world. With this funding we can accelerate our technology, hire key staff and continue to lead this emerging space.”

Rho Canada Ventures has been following the company since its earliest days. “We are impressed by the traction Resson Aerospace earned with some of the biggest names in agricultural production. With this funding, they can bring more new technology to the market to improve the efficiency and profitability of their customers,” said Jeff Grammer, Partner with Rho Canada Ventures.

“Food production is a multi-trillion-dollar global business. In a short period of time, Resson Aerospace has emerged as leader in using technology to improve crop yields. With a smart team and a strong product plan, they have a bright future ahead,” said Rob Barbara with Build Ventures.

About Resson Aerospace

Resson Aerospace is a bioinformatics and data analytics company that uses large-scale cloud-based data processing, drones and swarm robotics, and advanced data analytics to help major agricultural companies create efficiencies to maximize production and profits. Find out more at www.ressontech.com

About Rho Canada Ventures

Rho Canada Ventures is affiliated with Rho Capital Partners, focusing on early-stage investing in Canada’s most innovative technology companies. The Rho Canada Ventures team comprises a unique combination of entrepreneurial, operational and venture investment experience in the United States and Canada. With a combined 80 years of experience, we offer entrepreneurs the expertise to turn Canadian innovators into global leaders. Rho Canada Ventures’ portfolio companies are a diverse group of investments that span new media, mobile applications, wireless infrastructure, semiconductors & materials, and software (including SaaS). For more information, visit www.rhocanada.com or follow on Twitter @rhocanada.

About Build Ventures

Build Ventures manages a $65 million venture capital fund that concentrates on Series A investments. These are investments in early stage companies that have an established business model, a solid team, a large target market, and some revenue generation, and now need ramp-up capital. The focus is on companies in information technology, clean technology, life sciences and other high-growth sectors.

About BDC Capital

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term. From venture capital to equity to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.

About New Brunswick Innovation Foundation

The New Brunswick Innovation Foundation (NBIF) is an independent, not-for-profit corporation that makes investments in new startup companies and R&D within established businesses and New Brunswick universities and research institutes. With $50 million invested plus $315 million leveraged from other sources, NBIF has 34 companies in its active portfolio and has invested in over 350 applied research projects. All of NBIF’s returns on investment go back into the Foundation to startup new companies and research projects.

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For more information:

 

Allan Gates

Bonfire Communications

+1 506.214.5599

allan@bonfirestories.ca

@AllanGates1