Resson Grows Again & Will Hire 31 More High-Tech Positions in Fredericton

August 3, 2018 | by: Heather Boyd-Kinnie

Resson, a company based in New Brunswick, provides predictive analytics for the agricultural industry using machine learning, imaging and big data analytics to create efficiencies that maximize production and profit margins. On July 30, they announced the creation of up to 31 more jobs in Fredericton, New Brunswick, Canada, thanks to support from Opportunities New Brunswick. This would bring the total high-tech positions to 70, most of which are in New Brunswick.

The Pond-Deshpande Centre is so proud of this company and the impact that they are making. We also are very grateful to be working in the supportive ecosystem for innovators and entrepreneurs in New Brunswick which provides a perfect living lab to test ideas and grow businesses that can impact the world.

In 2013, Resson received one of the first ChangeMaker Funding awards from the Pond-Deshpande Centre.  This funding program was developed to provide early-stage companies with seed funding and support to test their innovative ideas in the market place, pivot them as needed, and then to begin to develop their business models. With their determination and high-energy drive, Resson’s co-founders, Peter Goggin, BBA and Rishin Behl, M. Eng., both University of New Brunswick alumni, then skillfully leveraged this initial funding to access more financing and formally launched their business.

Because of their leading-edge innovation, and the commitment of the co-founders to developing strong strategic partnerships, Resson has grown with leaps & bounds.  In providing advice to aspiring entrepreneurs, Peter says that they “must get out of the office, talk to people, and make connections.”

This approach saw Resson develop key partnerships with McCain Foods and then Monsanto Growth Ventures, as well as Build Ventures, Rho Canada, BDC Capital, East Valley Ventures and the New Brunswick Innovation Foundation, and in 2016, the company received $11 million US in Series B funding from investors.  With this, they officially became an international AgTech Business to watch!

In 2017, Resson was featured in the Forbes AgTech Landscape Map of the mosaic of companies entering the Food & AgTech market. That year, they were also recognized in CB Insights as one of the “100 Startups Powering the Future of Farming & Agribusiness.”

In January, 2018, Resson was named one of the THRIVE Top 50 leading AgTech companies “exemplifying the best in agricultural technology around the globe.”

In May of this year, Mahindra & Mahindra, the largest tractor company in the world, announced that they were joining Resson as a strategic partner and announced a $14 million US Series C round of financing.

We look forward to watching Resson grow more over the coming months! We will continue to witness the impact that two entrepreneurs with an innovative idea, who first met as students at the University of New Brunswick, are having in the optimization of precision agriculture in the world, and in creating high-tech, cutting-edge job opportunities for New Brunswick.

Article by Heather Boyd-Kinnie, PDC Funding Manager

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