Doosan Bobcat Invests in Silicon Valley Autonomous Driving Agricultural Machinery Technology Company Shares

Partnerships with Unmanned and Automation Companies
Unmanned Lawn Mower to be Launched by Year-End
"Will Expand Automation Technology"

Doosan Bobcat recently announced on the 7th that it has made an equity investment in Agtonomy, an unmanned agricultural technology development company based in Silicon Valley, USA. The scale of the investment and the stake acquired were not disclosed.

Agtonomy is an AgTech (Agricultural Technology, a combination of agriculture and technology) company related to Grounds Maintenance Equipment (GME). It has received investments from Google Ventures (GV), Toyota Ventures, Mirae Asset Venture Investment, and others. Agtonomy possesses technology that remotely executes labor-intensive tasks such as weeding, mowing grass, spraying crop protection agents, and transporting agricultural products.

A Doosan Bobcat official controlling an unmanned lawn mower (zero-turn mower) with a smartphone
[Photo by Doosan Bobcat]

Since signing a strategic partnership with Agtonomy in February, Doosan Bobcat has been jointly developing remote, unmanned, and electrification technologies to improve work efficiency and accuracy. In addition, starting with the US radar sensor specialist company 'Einstein' in 2021, last year Doosan Bobcat signed equity investment agreements with 'GreenZ,' a US commercial lawn mower automation software company. Doosan Bobcat’s subsidiary, Doosan Industrial Vehicle, is advancing unmanned forklift technology through a partnership with 'Colmogen,' a Swedish logistics equipment automation software company. According to MarketResearch.com, a US research firm, the global autonomous agricultural equipment market was valued at $10.7 billion last year and is expected to grow at an average annual rate of 21% over the next five years, reaching $28.5 billion by 2027.

A Doosan Bobcat representative said, “Our goal is to provide smart solutions that allow customers to focus more on productive and efficient work by automating simple repetitive tasks through collaboration with global companies.” He added, “We will apply automation technology to equipment in various fields such as agriculture, landscaping, construction, and logistics, including the unmanned lawn mower product to be unveiled around the end of the year.”