Scythe Robotics secures financing to expedite autonomous mower production
Scythe Robotics raised $42 million in Series B financing. The round was led by Energy Impact Partners and included additional new investors ArcTern Ventures, Alumni Ventures and Amazon’s Alexa Fund alongside participation from existing investors True Ventures, Inspired Capital and more.
The funding will help Scythe meet demand for the more than 7,500 reservations for its all-electric, fully autonomous M.52 mower.
“Since launching from stealth in June 2021, we’ve seen overwhelming interest from commercial landscape contractors in Scythe M.52 as a solution addressing both their crippling labor pains and their electrification needs,” said Jack Morrison, co-founder and CEO of Scythe. “We’re thrilled to expand our outstanding investor list, particularly with the addition of influential climate-tech investors Energy Impact Partners and ArcTern Ventures, and secure more capital to scale and meet the phenomenal demand for M.52.”
Scythe’s pay-as-you-mow pricing model is designed to align with landscape contractors looking to decrease mowing costs and maximize productivity. According to the company, the pricing will help make the switch to electric equipment easier for a landscape businesses. Scythe M.52 mowers have been sent to customers in Texas with customers on Florida next on the list.
“Commercial landscaping electrification represents a massive but undercapitalized decarbonization opportunity, tackling more than 40 million metric tons of CO2e emissions annually,” said Sameer Reddy, managing partner, venture at Energy Impact Partners. “With increasing regulatory pressures on emissions and air pollution, we see Scythe playing an instrumental role in decarbonizing our nation’s largest crop: grass.”
This financing round brings the company’s total capital raised to date to $60.6 million.