Precision AI

About Precision AI

Precision AI, a Canadian agricultural technology company founded in 2018, is developing artificially intelligent drones for autonomous farming. The company's genesis traces back to its founder and CEO, Daniel McCann, a serial tech entrepreneur with over 25 years of experience. The idea sparked when McCann, while developing an AI to identify items in his garage for online sale, noticed the model's proficiency at identifying plants. This realization, combined with his background of being raised around a family farm, planted the seed for what would become Precision AI.

The company's core mission is to enable fully autonomous farming, with a focus on dramatically reducing herbicide usage in row crop agriculture. It serves both small and large farms, as well as farm machinery manufacturers. The business model centers on providing autonomous spraying and crop protection solutions. Their technology uses computer vision to identify individual weeds, allowing for the surgically precise application of chemicals. This targeted approach aims to maintain crop yields while significantly cutting down on chemical costs, which can represent up to 30% of a farmer's yearly expenses. The platform deploys swarms of AI-powered drones to execute this precise spraying.

Precision AI's product suite includes its AI-driven software solution, SOLV™ Intelligence, and a drone sprayer system. In July 2024, the company announced the Stratus AirSprayer™, described as the world's first autonomous aerial sprayer with advanced AI. A significant milestone was achieved in May 2021, when the company secured a $20 million seed funding round co-led by At One Ventures and BDC Capital's Industrial Innovation Venture Fund, with additional grant funding from Sustainable Development Technology Canada and Protein Industries Canada. This capital was earmarked to advance the development of its farming platform. The company has received numerous accolades, including being selected as a 2023 collaborator by John Deere and winning the 'Innovation Award in Environmental Sustainability' at Ag in Motion in 2022.