Global farm equipment company acquires Bloomfield Robotics

A lot of the money coming into the Pittsburgh region this month comes from the federal government. 

Millions from the Economic Development Administration, the Environmental Protection Agency and the Department of Transportation will go toward a wide range of projects. That includes building up Bakery Square’s AI Avenue, and more electric vehicle charging stations. 

Plus, a global leader in farm tech just acquired a Bloomfield startup. Read on for the details, and more September Money Moves. 

Local startup acquired by global leader

Japan-based Kubota Corporation bought Bloomfield Robotics for an undisclosed amount. Kubota, which specializes in farm equipment, acquired the local startup because of its AI-based tool to detect crop health. 

“This acquisition is a key milestone for Kubota’s strategic vision to provide comprehensive smart agriculture solutions,” said M. Brett McMickell, chief technology officer for Kubota North America.

It’s not yet clear what the acquisition will mean for Bloomfield Robotics’s presence in Pittsburgh. The companies have worked together for the last two years, and the acquisition will accelerate the robotics startup’s plans for development, according to Mark DeSantis, president and CEO of Bloomfield Robotics.

The agtech firm started in 2019, as a spinout of Carnegie Mellon University. So far, it’s raised $16 million in a seed and Series A round. 

A $5M investment in regulatory medtech

The Global Opportunity Pennsylvania Fund II (GO PA) awarded $5 million to North Side-based Rimsys. The startup builds regulatory management software for the medtech field. 

“Our next phase of growth,” said James Gianoutsos, founder and CEO at Rimsys, “builds on our mission to increase accessibility to life-changing medical technologies with a focus on regulatory intelligence, submissions management and [unique device identifiers] enhancements and thoughtfully incorporating advanced technologies like AI.”

Ben Franklin Technology Partners started the fund in 2023. The recent investment is its first one outside of the Philadelphia region.

Bakery Square to get $2.8M upgrade 

The Economic Development Administration (EDA) granted the Allegheny County Industrial Development Authority $2.8 million to put toward Bakery Square. 

The Pittsburgh money will specifically be used on roadway infrastructure to support job and business growth in the budding tech hub. Local government will give an additional $2.8 million toward the project, with the hope of creating or retaining 55 jobs and generating $7 million in private estimates. 

“This $2.8 million investment is about more than just roads and buildings — it’s about centering our workforce and their potential,” said US Rep. Summer Lee.

More Power Moves:

• Local startup Korion Health won a $1 million prize, after beating out 100,000 global startups. It’ll use the money to seek FDA approval. 
• A $930,000 Environmental Protection Agency grant will help the Allegheny County Health Department fight the impacts of climate change on vulnerable communities. The department will work with the University of Pittsburgh and nonprofit Landforce. 
• Pittsburgh will get more electric vehicle charging stations soon, thanks to a $2.4 million federal grant from the Department of Transportation. 
• Fifty Black arts and culture organizations will split $500,000 in grants from the Pittsburgh Cultural Treasures Initiative.