Israel-based agricultural intelligence software provider Taranis completed a $20m series B round on Tuesday featuring fertiliser producer Nutrien and subsidiaries of agribusiness Wilbur-Ellis and diversified conglomerate Sumitomo.
Venture capital firm Viola Ventures led the round, which included Finistere Ventures, Vertex Ventures, OurCrowd and angel investors Eyal Gura and Gal Yarden. Wilbur-Ellis and Sumitomo invested through Cavallo Ventures and Sumitomo Corporation Europe respectively.
Taranis has created a software platform equipped with computer vision, data science and deep learning technology that uses aerial imagery sourced from drones in order to monitor crops more thoroughly.
The company claims the system can detect weeds, insects and crop diseases on a granular level. It will use the funding to expand in the US, Argentina, Brazil and Russia while also moving into the Australian market.
Brent Smith, Nutrien’s vice-president of proprietary technology and innovation, said: “We are delighted to collaborate with Taranis and combine their detection expertise with our integrated digital platform, and portfolio of products and services.
“Taranis’ technology will be integrated into our broader solution providing substantial value, efficiency, and profitability for our grower customers around the world.”
Taranis said it has now raised $29.5m altogether, including $2m in a March 2016 seed round led by OurCrowd that included Eshbol Ventures, Kaeden Capital, iAngels, Eyal Gura and Marc Benioff.
Finistere Ventures and Vertex Ventures co-led the company’s $7.5m series A round in May 2017, with contributions from Eshbol Investments, OurCrowd, Gura and Mindset Ventures.
