Israeli precision pollination company BeeHero today announced the completion of an oversubscribed $42 million Series B inancing round led by Convent Capital. Also participating in the round were General Mills, Cibus Capital (formerly ADM Capital), Rabobank, MS&AD, Firstime, J-Ventures, Plug&Play, iAngels, Gaingels, UpWest, and more. This brings to $64 million the total amount raised by BeeHero.
This latest funding will allow BeeHero to accelerate growth and adoption of its precision pollination platform and provide further investment in the company's R&D, which is essential for generating more data and insight into the sustainable agriculture ecosystem it is building to address the issue of global food security.
BeeHero CEO Omer Davidi said, "BeeHero’s mission is to deliver pollination accountability for commercial crop growers, by leveraging big data analytics and machine learning to help them mitigate pollination risk. Thus allowing them to focus on producing more food, securely, and sustainably."
He added, "We have seen firsthand the challenges our growers face from insufficient and inadequate pollination. To offset this, more and more farmers are adopting new technologies to meet the nutritional needs of our growing population. Our Precision Pollination as a Service Platform is a crucial tool farmers can rely on to improve their crop yields. This latest round of funding will help us continue to support the agricultural industry as it faces some of its toughest challenges yet, and is another step towards building a Sustainable Agriculture Ecosystem."
BeeHero has invested several years in building the world’s largest bee and pollination dataset. The company is striving to understand more about how this data can help to further optimize pollination, the crucial biological process that a majority of crops depend on. BeeHero’s platform provides farmers with Precision Pollination as a Service, by enabling commercial beekeepers to remotely track and monitor their apiaries. Moving forward, the company plans to integrate new platform tools to further support growers with an even more accurate, real-time view of their crop's development, leading to improved decision-making and ultimately better crop outcomes.
With close to 100,000 acres of high-value crops pollinated with BeeHero’s Precision Pollination as a Service, BeeHero now serves growers, beekeepers, agronomists, and ag retailers across the US. The company is expanding into Australia, Europe, South Africa, and South America.
Published by Globes, Israel business news - en.globes.co.il - on December 1, 2022.
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