Israeli startup AgroScout, which offers an AI-based solution for sustainable crop protection, announced it has closed its latest funding round, during which it took $3million (£2.4million).
Funding was led by Kibbutz Yiron and included other investors like Exit Valley crowd-funding platform, Agriline and The Trendlines Group, as well as grants from the Israel Innovation Authority and the BIRD Foundation.
AgroScout’s solution integrates external data collected by drones together with AI software, deep learning and computer vision.
With the data the system can autonomously detect, identify, and monitor diseases, pests, and other agronomic problems in field crops.
This allows farmers to target certain areas with chemicals or pesticide, resulting in a significant reduction in the percentage of crops that succumb to disease and pests and also a reduction in the use of these expensive chemicals.
AgroScout CEO Simcha Shore commented: “The investment from a strategic investor such as Kibbutz Yiron, an agribusiness with a deep understanding of the sector’s needs, is a vote of confidence in our technology and approach.
“The funding will allow us to expand our market reach significantly and broaden our services to our customers, offering them a viable and valuable solution to one of the most urgent issues facing farmers today.
“We expect this new round to enable us to deepen our strong relationship with Oracle, to offer a flexible, cutting-edge AI solution for farmers, enabling them to increase their yields and contribute to global food security for all.”