A leading private equity firm has invested $3 million in Agovor, an Australian company specializing in affordable electric autonomous tractors for the horticulture sector, to support its mission of addressing labor shortages and enhancing operational efficiency in agriculture.

Information on the target

Agovor is an innovative company specializing in the manufacturing of electric, autonomous tractors (eTractors) designed for the horticulture sector. The company focuses on automating simple, repetitive agricultural tasks such as mowing and spraying, which are essential for growers. By providing affordable and fleet-ready solutions, Agovor aims to address the pressing labor shortages faced by the industry, enabling medium-sized growers to justify investments in autonomous technology.

Founded by Richard Beaumont and Simon Carroll, Agovor has developed a robust product offering that includes compact eTractors capable of navigating narrow rows and performing tasks efficiently. The company’s technology is designed to optimize operational reliability and ease of use, making it accessible for a wide range of agricultural applications.

Industry overview in the target’s specific country

The Australian horticulture industry is currently grappling with significant challenges, primarily driven by soaring production costs. Since 2019, the apple and pear sector has experienced a staggering 40% increase in total costs, with labor being the predominant factor. In the p