Iowa City-based Rantizo lands convertible debt funding of $500,000.
The company, profiled by Silicon Prairie News in September, is part of the Iowa Startup Accelerator in Cedar Rapids and has developed a unique drone technology that delivers targeted spraying, primarily in agricultural applications.
In an article written by Clay & Milk following the induction of the Iowa Startup Accelerator class, CEO Michael Ott stated: “Basically, what we do is image what’s going on in a field to understand where there are problems, diagnose what those problems are and then deliver the needed spraying precisely where it’s needed, when it’s needed using a drone.”
The Iowa Startup Accelerator’s 2018 Fall Cohort also includes: 6C Solutions, Class Composer, Project BBQ, and two social good accelerator teams (Aging Services and Kids First Law Center).
The Accelerator Managing Director, David Tominsky stated about Michael Ott: “He’s a great entrepreneur and has been a mentor for ISA since we got started. It worked out that his latest company fit into our program and we are enjoying working with his team.”
This is the second Cedar Rapids/Iowa City company to announce a funding in the last week with SwineTech announcing last week. The region is known for its strong ag-tech basis and the Iowa Startup Accelerator has consistently provided strong ag-tech leadership.
Rantizo was founded by Ott, the current CEO, and Matt Beckwith, COO. For more information, see the company’s website at www.rantizo.com.
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