US-headquartered smart pollination technology provider BeeHero has secured $19m funding from investors including agriculture-focused financial services firm Rabobank, Israel Hayom has reported.
The funding included $15m in series A capital from Rabobank’s Rabo Food and Agri Innovation Fund, ADM Capital, iAngels, J-Ventures, FirstTime, UpWest, Entrée Capital, Gaingels, Arison Group, STB Holdings and Good Company,
The equity financing was backed up by $4m in grants from the European Commission, the Bird Foundation and Israel Innovation Authority.
BeeHero uses artificial intelligence and internet-of-things technology to remotely monitor beehives for disease, infestation optimised pollination activity and other factors using sensors in order to maximise crop yields under a precision pollination-as-a-service model.
By the end of 2021, the company expects to be the largest pollination provider in the US, managing 100,000 hives. It claims its service is already being used by a number of the top almond growers in California, but plans to expand both geographically and in terms of its crops, eyeing entry into berries, avocados, apples sunflowers and soybeans.
Rabo Food and Agri Innovation Fund also took part in BeeHero’s $4m seed round, in May 2020, in which UpWest, iAngels, Plug and Play and J-Ventures also invested.
