Israeli AI tree data company SeeTree has come out of stealth and announced that it has closed a $11.5 million Series A financing round led by Hanaco Ventures, and with the participation of investors from its seed round, including Canaan Partners Israel and Uri Levine and his investors group, as well as iAngels and Mindset. The company has raised $15 million to date including this latest financing round.
The Tel Aviv-based company also announced that it is launching a new agritech service for permanent crop growers who are looking to gain deeper insight into the health and productivity of their trees. The end-to-end service provides growers with intelligence on individual trees and tree clusters from the air, ground, and underground. Data extraction is performed using high-resolution, multi-dimensional sensing imagery obtained from drones, paired with ground sensors and rangers with boots-on-the-ground who acquire samples for further analysis.
Founded in 2017 by CEO Israel Talpaz, chairman, Barak Hachamov and CTO Guy Morgenstern, SeeTree has partnered with some of the largest corporate customers worldwide, and opened offices in California and Brazil.
Talpaz said, “Over the past 12-18 months, we focused our resources on perfecting the combination of artificial intelligence, machine-learning technology, and agronomic intelligence to provide growers with the data needed on a macro and micro level for optimized farming. Our existing customer base has expressed that SeeTree answers their long time need for true precision farming and we are excited to be partnering with some of the leading companies in the field, as well as our investment partners.”
Investor Uri Levine said, “SeeTree will be utilizing the new funds to scale the business, perfect the technology, and add additional components to their service based on ongoing customer needs.”
Published by Globes, Israel business news - en.globes.co.il - on January 16, 2019
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