Smart Apply Acquired by John Deere

The team at Serra is very pleased to announce the acquisition of Smart Apply, Inc., a precision spraying equipment company based in Indianapolis, by John Deere on July 14, 2023. The company experienced rapid growth in 2022 and 2023, primarily selling its unique chemical-saving technology through John Deere dealers. "We offer our hearty congratulations to the team at Smart Apply," said Tim Hoerr, Managing Partner of Serra. "The team made some pivotal moves in 2022 that conveyed to us they were locked into the right go-to-market approach. John Deere was a valuable partner on Smart Apply's journey as they recognized the unique value-add that Smart Apply brought to their dealers and end-users."

Smart Apply, Inc. developed the Smart Apply Intelligent Spray Control System™, an upgrade kit that can improve the precision and performance of virtually any air-blast sprayer used in orchard, vineyard, and tree nursery spraying applications. Smart Apply helps growers reduce chemical use, airborne drift, and run off, while optimizing high-value crop yields and meeting sustainability objectives.

Serra Capital Ag Tech Fund, LP invested in Smart Apply’s Series A investment round in August 2022 with a follow-up investment in December 2022. Jerry Johnson, CEO, commented, "Serra is an excellent business partner and well-respected in the VC community. Upon announcing their investment in Smart Apply, other investors joined and completed the round in one week. During our review of the 2023 business plan and seeing that cash was tight at the end of the first quarter, Serra volunteered to provide additional funding. We accepted the gracious offer and have been able to fund growth exceeding plan year to date. I couldn’t ask for a better partnership.”