Allison Transmission's venture capital arm
invests in pioneer software and services company specializing in
AI-enabled automation software for agriculture and land
maintenance.
INDIANAPOLIS, Oct. 22,
2024 /PRNewswire/ -- Allison Ventures, Allison
Transmission's venture capital arm, has made a strategic investment
in Agtonomy, a software and services company specializing in
advanced autonomous and AI solutions for agriculture and industrial
applications. With this investment Allison will support Agtonomy in
enhancing commercial productivity and operational efficiency
through advanced automation and connectivity.
Founded in 2021, Agtonomy integrates its technology into
well-known tractors and equipment, converting them into a digitally
controlled, task-oriented system for agriculture that prioritizes
safety, profitability and environmental sustainability. The
California-based company has
quickly distinguished itself with its innovative teleguidance
application, which allows a single user to monitor and control a
fleet, significantly reducing labor costs and increasing
productivity for farmers.
"We are thrilled to welcome Allison to our distinguished group
of investors. Their support is pivotal as we advance our mission to
harness cutting-edge autonomy and AI solutions," said Tim Bucher, CEO, Agtonomy. "Together, we are
setting the stage for transformative impacts across
industries."
The investment will help provide Agtonomy with the necessary
resources to expand its pilot program. This expansion will
encompass a broader geographical reach as well as additional
vehicle and implement platforms, catering to a more diverse range
of agricultural needs and enhancing the overall effectiveness of
the program.
"Allison Ventures is delighted to partner with Agtonomy, a
company that not only aligns with our specific investment goals but
also embodies our broader commitment to fostering innovation across
various strategic domains," said Todd
Bradford, Vice President, Strategy, Business and Corporate
Development, Allison Transmission. "This partnership extends beyond
mere financial investment; it is about actively engaging in a
journey of shared knowledge and technical collaboration."
To learn more about Allison Ventures, visit
allisontransmission.com.
To learn more about Agtonomy, visit agtonomy.com.
About Allison Transmission
Allison Transmission (NYSE:
ALSN) is a leading designer and manufacturer of propulsion
solutions for commercial and defense vehicles and the largest
global manufacturer of medium- and heavy-duty fully automatic
transmissions that Improve the Way the World Works. Allison
products are used in a wide variety of applications, including
on-highway vehicles (distribution, refuse, construction,
agriculture, fire and emergency), buses (school, transit and
coach), motorhomes, off-highway vehicles and equipment (energy,
mining and construction applications) and defense vehicles
(tactical wheeled and tracked). Founded in 1915, the company is
headquartered in Indianapolis,
Indiana, USA. With a presence in more than 150 countries,
Allison has regional headquarters in the
Netherlands, China and
Brazil, manufacturing facilities
in the USA, Hungary and India, as well as global engineering
resources, including electrification engineering centers in
Indianapolis, Indiana,
Auburn Hills, Michigan and
London in the United Kingdom. Allison also has approximately
1,600 independent distributor and dealer locations worldwide. For
more information, visit allisontransmission.com.
About Agtonomy
A California-based, farmer-founded software,
services and technology company enabling autonomy to solve
agriculture's most immediate and pressing problems including labor
scarcity, climate change and shrinking profit margins. Partnering
within the equipment value chain for rapid commercialization,
Agtonomy embeds their 'smarts' into brand-name tractors and
implements, digitally transforming machinery into a
remote-operated, task-driven ecosystem for safe, equitable,
profitable and climate-smart agriculture.
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SOURCE Allison Transmission Holdings Inc.