Resson, the Fredericton developer of artificial intelligence systems to advise farmers about how to care for crops, has wound up its operations and officially been dissolved by Corporations Canada as of Wednesday, according to a regulatory filing in India.

In a letter to the National Stock Exchange of India, mandated under that country’s security laws, farm equipment giant Mahindra said it was entitled to C$4.7 million of proceeds related to its 11 per cent stake in Resson.

The news comes just a year after Resson sold much of its intellectual property to McCain Foods. At the time, CEO Mike Morris said the deal was meant to allow the company to concentrate its research and development, as well as commercialization work on a single, core product.

Before the sale, Resson had been effectively developing two technology platforms simultaneously: one that used satellite imagery to give farmers broad advice about caring for their fields as a whole and one focused on using cameras mounted on tractors to offer feedback at the level of individual plants. McCain bought the satellite imagery business.

Resson was originally founded in 2013 by Peter Goggin and Rishin Behl, with the aim of using drones to gather images of crops. Their plan was for an AI system to then analyze the images and make suggestions about crop management practices — where and when farmers ought to spread fertilizer or pesticides, for example, or the optimal time to harvest crops.

But the cost of using drones to gather image data proved untenable, so Resson pivoted to a development path focused on satellite imagery. Around the same time, the team also began using cameras mounted on tractors to collect more granular image data and ultimately pursued both development paths simultaneously.

That split development pathway proved unworkable, and Morris was hired in 2021 to steer the company out of the doldrums after several years of lackluster progress. But in the Indian stock exchange letter, Mahindra says Resson had no revenue for the year that ended March 31 and indicated the company's net worth was about C$8.8 million..