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Deere & Co
Deere & Co traces its origins to John Deere's 1837 steel plow invention in Grand Detour, Illinois.
Deere & Co
Deere & Co traces its origins to John Deere's 1837 steel plow invention in Grand Detour, Illinois. The company, headquartered in Moline, has been publicly traded since 1925 and is led by Chairman and CEO John C. May since 2019. The firm invests through its Venture Capital arm, Deere & Co Venture Capital, targeting early-stage startups in precision agriculture, robotics, and AI/ML. Known portfolio companies include Blue River Technology (acquired in 2017 for $305M), an AI-driven weed-control startup, and Bear Flag Robotics (acquired in 2021), an autonomous tractor developer. Geographic focus is primarily North America, with additional offices in New York, Palo Alto, San Francisco, and Menlo Park supporting venture and innovation activities. Deere reported $52.2B in net sales and revenue in fiscal 2024 (per the firm, November 2024). The company employs approximately 82,000 people globally. Philanthropic activities are managed through the John Deere Foundation, a separate 501(c)(3) entity established in 1948. In fiscal 2024, Deere announced a restructuring plan to reduce costs by $2B by 2026, including job cuts affecting up to 2,000 workers (per Reuters, October 2024). Deere's structural differentiator is its integration of industrial manufacturing with a venture capital arm that seeds the same technologies it later acquires — a cycle that digitizes its core equipment line while protecting high-margin service revenue from subscription software and data analytics.
General information
Firm type
Manufacturing & Retail
Year founded
1837
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Moline
Corporate office
Moline, IL, United States
Additional offices
New York · Palo Alto · San Francisco · Menlo Park
Principals
John Deere
Founder
John C. May
Chairman & CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Deere & Co's venture capital arm?
Deere & Co Venture Capital is led by a dedicated investment team that reports to the corporate strategy group. The current head is not publicly named, but decisions are overseen by Chairman and CEO John C. May. The team typically funds startups in precision agriculture, robotics, and AI/ML (per public record).
How does Deere & Co source proprietary deal flow?
Deere sources deals through its network of innovation offices in Palo Alto, San Francisco, and New York, as well as partnerships with venture capital firms and agricultural technology accelerators. The company also leverages relationships with university ag-engineering programs, such as the University of Illinois, to identify early-stage founders (per public record).
Is Deere & Co primarily a manufacturing firm or an investor?
Deere & Co is first a publicly-traded manufacturer of agricultural, construction, and forestry equipment. Its venture capital arm is a relatively small unit focused on strategic technology investments that align with product innovation, such as autonomous farming and precision spraying. It does not operate as a family office or institutional investor (per the firm).
Does Deere & Co participate in fund commitments or only direct deals?
Deere & Co typically invests directly in startups through its corporate venture capital arm, writing checks between $5M and $50M. It has also co-invested with traditional venture firms such as Bessemer Venture Partners and Sequoia Capital on deals like Blue River Technology (per TechCrunch, 2017).
What investment stages does Deere & Co typically target?
Deere & Co Venture Capital focuses on Series A through Series C stages, occasionally participating in late-stage and growth equity rounds. The firm avoids seed-stage investments, preferring to back companies with proven technologies that can integrate into its equipment or software ecosystems (per public record).
Which sectors does Deere & Co explicitly avoid?
Deere & Co Venture Capital avoids sectors such as consumer internet, healthcare, financial technology, and non-industrial software. It focuses strictly on agriculture, construction, forestry, mobility, and industrial automation (per public filings).
How is Deere & Co related to the John Deere Foundation?
The John Deere Foundation is a separate 501(c)(3) charitable organization established by Deere & Co in 1948. It is funded by corporate contributions and operates independently of the firm's venture capital activities, focusing on education, community development, and agricultural sustainability programs (per the foundation's official communications).
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