Greeneye Technology

Greeneye Technology is an Israeli company providing precision spraying solutions, using artificial intelligence and deep learning. The company’s technology can be integrated into existing sprayer machines which eliminates the need for farmers to invest in new equipment for precision spraying. 

Greeneye’s solution allows farmers to detect and spray weeds in real-time, capturing images at a rate of 40 frames per second  with up to 95.7% accuracy. The company also claimed that its solution can carry out precision spraying at the same travel speed as broadcast spraying (20 km/h). It also reduces herbicide and chemical usage by 90% and reduces costs by an average of 50% when compared to broadcast spraying methods. Results from field trials conducted by the Agricultural Research Division (ARD) of University of Nebraska-Lincoln showed that Greeneye’s precision spraying solution reduced herbicide usage in postemergence applications and pre-emergence applications by 87% and 94% respectively with similar weed control efficacy compared to broadcast applications. In addition, Greeneye’s solution also reduced total residual and non-residual herbicide costs (USD 40.6 per acre) compared to broadcast treatments (USD 105.8 per acre) and claimed to have return on investment within 18 months for a 3,000 acre farm.

Greeneye rented its precision spraying machines as a service with plans to sell a retrofit kit to its customers, which can be integrated into existing machines from 2022. As the first stage of its global roll-out, Greeneye announced its commercial launch in October 2021, where the company made its first sale to one of the largest farming operations as reported in Israel. As of December 2021, the company operated an R&D team in Israel and had a sales and operations team in the US. During the time, the company revealed plans to commercialize in the US in 2022, where they planned to work initially with corn and soybean farmers in the Midwest and to expand further across other states such as Dakota, Kansas, and Illinois in 2023. 

Key customers and partnerships

In May 2024, The company has partnered with farming equipment and service provider Boeck Seed Services to open its first dedicated dealership. This will make its technology more accessible to farmers in Nebraska and the surrounding states.

In January 2023, Farmers Business Network (FBN), one of the top farmer networks and e-commerce platforms in the US, and Greeneye Technology entered into a long-term strategic partnership to combine Greeneye's retrofit precision spraying systems with FBN's Precision Spraying Packs. 

Funding and financials

In April 2024, The company has raised USD 20 million in a funding round led by Deep Insight, with participation from existing investors Syngenta Group Ventures, JVP, Orbia Ventures, and Eyal Waldman, and new investors Iron Nation and Amol Deshpande.

In December 2021, Greeneye raised USD 22 million in a Series A funding round led by Jerusalem Venture Partners(JVP). The funds are said to support the company’s expansion plans and werel also to be used to improve the company’s technology to accommodate more crops and inputs. Greeneye also planned to double its R&D team in Israel and strengthen its existing operations in the US.