Hitch

Autonomous Farming Robots

Company Information

Website:

https://www.hitchrobotics.com/

Sector:

Agriculture, Robots

Location:

Santa Monica, CA

Hitch has developed one of the first electric, fully-autonomous transport robots for the agriculture and farming industries.

Its device, called the Transport Hitch, is an all-terrain, all-weather autonomous robot designed to transport produce from the field to farm processing centers.

By partnering with Hitch, farms can reduce their labor requirements and increase productivity by at least 40%. This is ideal for an industry plagued by labor shortages and constantly increasing wages.

Hitch has signed a Letter of Intent from HMC Farms to create and sell 100 robots. This represents $2 million in expected revenue. The company is backed by Wavemaker Partners, a venture firm focused on early-stage technology startups.

Team Background

Nick Giancola - Chief Executive Officer
Ethan Joffe - Chief Technology Officer

Co-Investors

Wavemaker Partners

An early-stage venture capital firm invested in technology-related startups. Has invested in more than 30 companies that have achieved successful “exits.”

Raising
$2 million
Committed
$210K (10%)
Current Valuation
$10 million Cap / 0% Discount
Min. Investment
$1,000
Deal Type
Title III
(For all investors)
Offering Type
SAFE
Finance History
  • $314K
    2018-03-20
    Unknown
    (Pre-Seed)
Notable Investors
  • Wavemaker Partners
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