Taranis secures $ 30M in additional funding

Agricultural intelligence company, Taranis announced closing a $ 30 million global Round C funding. With Vertex Growth and Kuok Group’s Orion Fund (managed by K3 Ventures) taking the lead, Taranis has raised $ 60 million to date and plans a broadscale rollout of the company’s agronomic intelligence service.

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We are excited to announce our latest funding round!
“The combination of high-definition imagery and intelligence has the potential to change the game for global agriculture,” MX Kuok, managing director, K3 Ventures.https://t.co/YeF9PJFCRl#agritech #precisionag #dronescouting pic.twitter.com/QYgoBCyVfB

— Taranis (@TaranisAg) July 21, 2020

AI2 SmartScout technology

“Powered by our proprietary AI2 SmartScout technology, this platform ushers in the first of its kind outcome-based, broad-acre scouting tool of the future that will ensure growers are meeting their benchmarks with minimal risk,” says Taranis.

New investors in this round include strategic investor Hitachi Ventures as well as Mitsubishi UFJ Capital, Micron Ventures, UMC Capital, La Maison, OurCrowd, Mindset Ventures, iAngels and Gal Yarden. Existing investors Vertex Ventures Israel, Viola, Finistere and OurCrowd also continue their support.

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Taranis says their generates precise, leaf-level diagnosis twenty times faster than the manual alternative. – Photo: Taranis

Hyperlocal, real-time insights

“Until recently, growers have had to wait on time-consuming manual scouting to assess threats, formulate an action plan, and react. Our ag intelligence service takes out the guesswork and brings hyperlocal, real-time insights from the fields to your fingertips,” said Ofir Schlam, CEO and co-founder of Taranis.

“And we’re not stopping there. We have exciting programs in our pipeline which will completely change the reactive risk mitigation model of today, to an outcome-based approach informed by predictive threat thresholds and yield expectations.”

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Ofir Schlam, taranis CEO (right): “We have exciting programs in our pipeline which will completely change the reactive risk mitigation model of today, to an outcome-based approach informed by predictive threat thresholds and yield expectations.” – Photo: Taranis

Leaf-level diagnosis

Taranis says it’s proprietary AI2 SmartScout Solutions bring a new level of efficiency to the industry, capturing 0.3mm/pixel resolution images of fields from planes and drones at a speed of 100 acres in 6 minutes. With this technology, the company says it’s able to generate precise, leaf-level diagnosis twenty times faster than the manual alternative, and with 20 times more data points scouted.

Beyond capturing crop needs, AI2 SmartScout Solutions leverages a database of more than 1 million threat species to create accurate prescription plans to customise treatments and application rates.