Israeli AI-powered crop intelligence provider Taranis today announced the completion of a $40 million Series D financing round. The round was led by Inven Capital, with participation from new investors Seraphim Space Investment Trust (SSIT) and Farglory Group, and existing investors: Vertex Growth, Viola Ventures, Vertex Ventures Israel, La Maison Partners, Hitachi Ventures, K3 Ventures, UMC Capital, OurCrowd, Micron Ventures, iAngels Ventures, Presidio Ventures (Sumitomo), Cavallo Ventures (Wilbur Ellis), Finistere Ventures, and Eyal Gura. This latest round brings the total amount raised by Taranis to $100 million.
The Tel Aviv-based company was founded in 2015 by president Ofir Schlam, Asaf Horvitz, Eli Bukchin and Ayal Karmi.
Schlam said, "We see a tremendous need for crop intelligence at scale as growers deal with soaring costs and a constant need to increase productivity and yield. Over 100 agricultural retailers and advisors are sharing our journey as innovation partners. They rely on Taranis as the critical source of insights into crop health and threats across millions of acres, to drive better outcomes for their growers."
Taranis’ crop intelligence platform leverages leaf-level imagery and is powered by machine learning, trained by a crop dataset containing over 200 million AI-data points. In the most recent growing season, Taranis delivered millions of actionable insights to ag advisors and growers, empowering decision making, simplifying crop management, and improving their bottom line.
Taranis CEO Bar Veinstein said, "I’m excited about our growth trajectory," said Bar Veinstein, Taranis’ CEO. "The new funding will allow us to accelerate our 3-year plan, rapidly expand our operations, and deliver transformative technology to the market faster. We are delighted to welcome our new investors and continue to be grateful to our existing investors for their support."
Published by Globes, Israel business news - en.globes.co.il - on September 7, 2022.
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