Ceres Imaging, Agtech's start-up, which uses computer vision and spectral imaging technology to provide farmers with crop information, has closed a new round of funding.
The Oakland-based company entered a $ 25 million round led by Insight Venture Partners, with the participation of Romulus Capital. They have raised about $ 35 million to date.
Since the company closed its Series A, it has continued to expand its efforts beyond vineyards and orchards into "row crops" such as corn, soybeans and wheat. Although these crops may be of low margin in nature, they offer a great opportunity when it comes to scaling up their operations and tackling larger scale problems.
"Our imagery helps farmers cope with a changing world, facing challenges such as climate variability, labor shortages and depressed markets," Ashwin Madgavkar said. CEO of Ceres Imaging
Unlike many other startups looking to analyze farmers' crops, Ceres Imaging is not trying to put its technology on drones, instead opting for manned planes to carry proprietary equipment and collect the imaging data. a less automated capability.
This data goes beyond imaging to the naked eye, collecting spectral data that can provide insight into the water and nutrient content of crops. These data identify the warning signs of damage and ultimately give customers in the United States and Australia indications on the best way to fertilize, water and apply pesticides on their crops, according to the company.