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Toyota Ventures leads seed extension into Agtonomy, turning tractors into autonomous vehicles – TechCrunch

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Agtonomy co-founder and CEO Tim Bucher was born and raised on a farm and was deep into his own farming business when he took a computer course while at UC Davis and got hooked.

It was that parallel agriculture/technology career that led him to start Agtonomy, a hybrid autonomy and tele-assist service startup that turns tractors and other equipment into autonomous machines to provide a low-cost, technology-enabled labor force for local farms to manage such equipment.

It came out of stealth mode last September with $4 million in seed funding from a group of backers that included Grit Ventures, GV and Village Global.

Grit and GV came back again to invest in the South San Francisco-based company and were part of a $5 million seed extension, led by Toyota Ventures, with participation from Flybridge, Hampton VC, E²JDJ and Momenta Ventures. The latest funding gives Agtonomy $9 million in total funding to date.

Having just raised funding, Bucher wasn’t expecting to raise again so soon, but when he saw the outlook for 2022 that agtech was going to be the No. 1 “hot area” for the year and beyond, he decided to take the additional funding.

“Five years ago, it was hard to get any VC attention related to agtech, but there has just been overwhelming interest from investors, and though we are just starting out, local agriculture needs help now,” he added. “The funding will accelerate our trials and additional partners and essentially turbo-charge our activities and ability to double down at the speed in which we are moving, which includes expanding the team.”

Bucher anticipates having 50 trials going and to double the company’s 20-person headcount in the next few months.

Agtonomy is as simple as calling an Uber driver, he said. Using a mobile phone app, a farmer can assign a job to one of the tractors, like mowing the field. He believes self-driving technology like this, and what other companies like John Deere are doing, will help to alleviate the decades of labor shortages in farms around the world.

The company has a small fleet of what he called “proof of concept” electric vehicles that have been operating for a year at Bucher’s Trattore Farms. He says the farm work on his farm is almost entirely done with these vehicles.

Bucher expects a commercial launch to happen in 2023, and the company will initially start with a few hundred tractors. In comparison, some 300,000 tractors are sold each year, he added. The tractors can be anywhere from $500,000 to $1 million, with companies like John Deere typically going after big farms.

In contrast, Agronomy’s autonomous vehicles will cost around $50,000, which Bucher believes will encourage larger farms to purchase a swarm of smaller machines that can run 24 hours a day, be more environmentally friendly and not tear up the land.

Jim Adler, the founding managing director of Toyota Ventures and an executive advisor at Toyota Research Institute, said in a written statement that “fully autonomous vehicles will become a reality on farms where they are more desperately needed much more quickly than they will on city streets.”

Similarly, Bucher believes that many of the autonomous vehicles today cater to more “convenience technologies,” while companies in the agtech space are building similar vehicles in what he calls “necessity technology.”

“It is kind of a perfect storm with consumer demand, climate change, electrification and labor shortage in farming,” he added. “We can solve these much sooner in agtech than having the other kinds of autonomous technology in our lives. With ours, it allows all of us to eat good food.”

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Identity in the metaverse: Creating a global identity system

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With the advent of the metaverse, the need for a global identity system has become apparent. There are many different ways to create an identity in the metaverse, but no single system is universally accepted. 

The challenge is usually two-fold: first, how to create an identity that is accepted by all the different platforms and services in the metaverse, and second, how to keep track of all the different identities a person may have.

There are many proposed solutions to these challenges, but no clear consensus has emerged. Some believe that a single, global identity system is the only way to ensure interoperability between different platforms and services. Others believe that multiple identities are necessary to allow people to maintain their privacy and security.

The debate is ongoing, but it is clear that the need for a global identity system is becoming more urgent as the metaverse continues to grow.

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In this article, we will explore the various options for creating a global identity system in the metaverse. We will discuss the pros and cons of each option, and try to identify the best solution for the future.

Option 1: A single global identity

The simplest solution to the problem of identity in the metaverse is to create a single, global identity system. This would be a centralized system that would be responsible for managing all identities in the metaverse. 

The advantages of this approach are obvious: It would be much easier to keep track of identities, and there would be no need to worry about different platforms and services accepting different identities. In addition, a centralized identity system would allow for better security and privacy controls, as well as the ability to track identity theft and fraud.

However, this approach also has several disadvantages. First, it would be very difficult to create a global identity system that is accepted by everyone. Also, a centralized system would be vulnerable to attack and could be used to track people’s movements and activities. Third, it would be difficult to protect the privacy of users in a centralized system.

Option 2: Multiple identities

Another solution to the problem of identity in the metaverse is to allow each person to have multiple identities. This would mean that each person could have one or more identities that they use for different purposes. 

One of the main advantages of this approach is that it would allow people to maintain their privacy and security. Each person could choose which identity to use for each situation, and they would not have to worry about their entire identity being exposed. In addition, this approach would be more resilient to attack, as it would be much harder to take down multiple identities than a single one.

The limitations of such an approach would be that it could be difficult to keep track of all the different identities, and there would be no guarantee that different platforms and services would accept all of them. In addition, multiple identities could lead to confusion and could make it more difficult for people to build trust with others.

Option 3: A decentralized identity system

A third solution to the problem of identity in the metaverse is to create a decentralized identity system. This would be an identity system that is not controlled by any one centralized authority but rather is distributed among many different nodes. 

This might seem like the ideal approach, since decentralization is a common theme in the metaverse. However, there are still some challenges that need to be overcome. For instance, it would need to be ensured that all the different nodes in the system are properly synchronized and that the system as a whole is secure. In addition, it might be difficult to get people to adopt such a system if they are used to the more traditional centralized approach.

One solution would be to get the nodes in the system to be run by different organizations. This would help to decentralize the system and make it more secure. Another advantage of this approach is that it would allow different organizations to offer their own identity services, which could be more tailored to their needs.

Another would be to incorporate an edge computing solution into the system. This would allow for more decentralized processing of data and could help to improve performance. It would also make the system more resilient to attack since there would be no centralized point of failure.

The best solution for the future of identity in the metaverse is likely to be a combination of these approaches. A centralized system might be necessary to provide a basic level of identity services, but it should be supplemented by a decentralized system that is more secure and resilient. Ultimately, the goal should be to create an identity system that is both easy to use and secure.

The ideal identity standards of the metaverse

Now that we have explored the various options for identity in the metaverse, we can start to identify the ideal standards that should be met by any future global identity system. 

It is no easy task to create a global identity system that meets all of the criteria, but it is important to strive for an ideal solution. After all, the metaverse is still in its early stages, and the decisions made now will have a lasting impact on its future. 

Current iterations of the metaverse have used very traditional approaches to identity, but it is time to start thinking outside the box. The ideal solution will be one that is secure, private, decentralized, and easy to use. It will be a solution that allows people to maintain their privacy while still being able to interact with others in the metaverse. 

Most importantly, it will be a solution that can be accepted and used by everyone. Only then can we hope to create a truly global identity system for the metaverse.

The bottom line on identity in the metaverse

The question of identity in the metaverse is a complex one, but it is an important issue that needs to be addressed. 

The challenges associated with creating an implementation that is secure, private and decentralized are significant, but they are not insurmountable. For one, it will be important to get buy-in from organizations that have a vested interest in the metaverse. These organizations can help to promote and support the adoption of identity standards. 

It is also important to keep in mind that the metaverse is still evolving, and the solution that is ideal today might not be ideal tomorrow. As such, it will be critical to have a flexible identity system that can adapt as the needs of the metaverse change. 

Ultimately, the goal should be to create an identity system that is both easy to use and secure. Only then can we hope to create a truly global identity system for the metaverse.

Daniel Saito is CEO and cofounder of StrongNode

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How to Eliminate Scheduling Inefficiencies in Your Business

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What do salons, consultancies, and home service providers all have in common? This question may seem like the prime setup for a joke, but there’s no punchline to look forward…

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Why You Should Start a Business Only While You Have a Job

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Opinions expressed by Entrepreneur contributors are their own.

Many people that I meet tell me that they dream of starting their own . I always ask them, “Then why don’t you?” They typically respond by saying that they have so many financial and personal responsibilities, that they can’t just quit their job to start a company, etc. Then I tell them my story …



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Related: How to Use Your Current Job to Start Your Next Business

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