The new funding will help boost the company’s Canadian operations with equipment upgrades allowing for year-round production and support the construction of new facilities in Ohio.
The funding will be used to it will be used to further develop American Robotics’ integrated drone system for commercial farming and to expand its team.
The funds were pooled from members of the Farm Credit System, a nationwide network a group of banks and lenders chartered to serve agriculture and the US rural economy.
China will allow US beef imports as soon as possible but no later than July 16, 2017, while the US will publish a proposed rule by that same date that will allow imports of cooked Chinese poultry into the US.
The fund will invest in “high-potential, early-stage food and agriculture companies” that are aligned with aligned to Rabobank’s “Banking for Food” strategy in the US and Western Europe.