The Launch Place Announces Investment in AGEYE Technologies
DANVILLE, Va. (June, 25 2024) – The Launch Place (TLP) is pleased to announce a significant investment in AGEYE Technologies, a leader in AI-driven indoor farming technology. This marks a new addition to TLP’s portfolio, highlighting its commitment to supporting innovative startups in the Dan River Region and beyond.
AGEYE, based in Raleigh, North Carolina, develops next-generation AI solutions for indoor farming. By integrating advanced management software with automated grow systems, AGEYE ensures optimal per-plant economics and profitability. Their technology provides detailed visibility into all costs on a per-plant level, something that is very difficult in commercial operations.
Eva Doss, President and CEO of TLP, commented, “Virginia is positioning itself as a hub for controlled environment agriculture, drawing in major farms like Plenty and AeroFarms, the latter of which is currently building a large facility here in Danville. Once you see the scale of the operations, it’s clear how critically important the technology AGEYE has developed is. AGEYE’s approach to leveraging AI for detailed plant monitoring is a game-changer for indoor farming. Their technology not only promises increased profitability for farms but also advances the sustainability of agricultural practices.”
TLP’s investment will support AGEYE in scaling its operations and expanding its customer base. The company has already built a robust pipeline of qualified opportunities, positioning it for significant growth.
AGEYE CEO, Nick Genty, expressed enthusiasm about the partnership, saying, “We are excited to have TLP’s support. Their expertise and resources will be invaluable as we continue to innovate and grow, especially given Virginia’s continued push around recruiting commercial indoor farms.”
About The Launch Place
The Launch Place (TLP) provides capital, mentorship, and support services for promising startups, focusing on SaaS, IoT, and medical, health, and green technologies. Based in Danville, Virginia, with a second office in North Carolina’s Research Triangle Park, TLP’s initial investments typically range from $200,000 to $250,000, with potential follow-on investments reaching $750,000. TLP’s original and biggest funder to date is the Danville Regional Foundation.
About AGEYE
AGEYE develops complete, AI-driven vertical farming solutions—from racks to robots—integrated with advanced management software to optimize per-plant economics and ensure profitable operations. Their comprehensive approach reduces labor costs, enhances environmental conditions, and increases yields, making sustainable food production both viable and profitable. Learn more at www.ageyetech.com
Contact:
Eva Doss
President & CEO
The Launch Place
336-908-8806
edoss@thelaunchplace.org