Israeli digital farming company Prospera has raised $15 million in a Series B financing round led by Qualcomm Ventures, with participation from Cisco Investments, ICV and previous investor Bessemer Venture Partners. The Tel Aviv based company has raised $22 million to date.
The company was founded in 2014 by CEO Daniel Koppel, CTO Shimon Shpiz, and VP R&D Raviv Itzhaky.
Prospera introduces end to end digitalization to farming - from agronomy to operations. Powered by advanced data analytics, computer vision, and artificial intelligence, Prospera’s system provides growers easy-to- use digital tools to achieve better yields, healthier crops, and higher profits. Prospera builds long term partnerships with leading growers worldwide, based on delivering tangible value quickly, and at every stage of the growing cycle. Already working with some of the most recognized growers around the world, Prospera will use the new funds to accelerate its global expansion and broaden its services to different crops in both indoor and outdoor environments.
Prospera's digital farming system collects, digitizes, and analyzes vast amounts of farm data and optimizes all aspects of production, from agronomy to labor management. It allows agro-businesses to turn their farms into fully digital plants, with tighter control, higher productivity, and more predictable output.
Koppel said, “This is an exciting time to create data analytics solutions, with the agriculture industry on the precipice of a giant step forward. While the agriculture industry has been somewhat slow to adopt information technologies, it is now closing the gap with state-of- the-art data processing tools, artificial intelligence, and machine learning. We’re excited to lead this paradigm shift. We help our customers surf the tide of digitalization, and become connected, agile, and data-driven businesses that can more efficiently meet the ever- increasing demand for their produce under constantly changing market conditions."
“We were impressed with Prospera’s innovative approach to the digitalization of farming by using computer vision, machine learning, and wireless technologies,” said Boaz Peer, Director at Qualcomm Ventures. “We are excited to be an investor and look forward to supporting them as they lead the way towards bringing greater innovation to the agriculture industry.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2017
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