AppHarvest acquires robotics business Root AI

摘要

US agriculture technology company AppHarvest (Morehead, Kentucky) has acquired Somerville, Massachusetts-based robotics start-up, Root AI. The business develops artificial intelligence (AI)-based robots that assist in the management of high-tech indoor farms, with the deal including its robotic universal harvester, Virgo. The transaction involves an investment of around $60 million, with some $10 million to be paid in cash. Common shares of AppHarvest would be used to pay the rest, with the company slated to issue approximately 2.3 million shares.