By Paul Ziobro
The venture arm of Allison Transmission Holdings has made an investment in Agtonomy, company involved in autonomous and artificial-intelligence solutions for agriculture and industrial applications.
Terms of the investment by Allison Ventures weren't disclosed.
Founded in 2021, Agtonomy integrates its technology into well-known tractors and equipment, converting them into a digitally controlled, task-oriented system for agriculture. It has developed a teleguidance application, which allows a single user to monitor and control a fleet of equipment, reducing labor costs and increasing productivity for farmers.
The investment will provide resources to help Agtonomy to expand its pilot program to more geographies and additional vehicles and platforms.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
October 22, 2024 16:33 ET (20:33 GMT)
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