Israeli digital precision farming company Taranis has announced that it has raised $30 million in a Series C financing round led by Vertex Growth and with the participation of new investors Hitachi Ventures, Mitsibushi, UFG Capital, Micron Ventures, UMC Capital, La Maison, Mindset Ventrures, iAngels, and Gal Yarden and previous investors Viola, Finistere, and OurCrowd. This latest financing round brings to $60 million the amount raised by the company.
Taranis uses deep-learning technology and agronomic understanding to offer insights that create a more sustainable farming ecosystem. These insights are made possible by the power of Taranis' patented aerial imagery technology, that when placed on high-speed UAVs and manned aircrafts provide more than 500x more detail than existing monitoring platforms. In 2018, Taranis acquired Mavrx, which has developed aerial photography capabilities for field crops.
Taranis has also built an extensive database that implements deep-learning technology to identify crop stresses such as weeds, insects, and diseases on a granular level - providing magnification of up to 0.5mm. Taranis then turns the collected data into actionable insights, helping farmers monitor their acreage effectively by improving crop yields and cutting costs.
The Tel Aviv-based company was founded in 2015 by CEO Ofir Schlam, Asaf Horvitz, Eli Bukchin and Ayal Karmi.
Published by Globes, Israel business news - en.globes.co.il - on July 21, 2020
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