<div>
  <ul>
    <li>
      <p>
        Green Labs, a Korean startup offering a blockchain-based smart farming platform, has raised USD 140 million in a Series C round of funding led by BRV Capital Management. Existing Investor SK Square and new investor Skylake Incuvest also participated in the round.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Following the round, the company&rsquo;s pre-money valuation was USD 0.7 billion, moving it closer to reaching unicorn status. The funds are expected to support Green Labs in expanding its global presence, funding acquisitions, and hiring more employees.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Green Labs also reported that it is open to collaborating with local players that offer similar services in its aim to expand into global markets. As of January 2022, the company has expanded its services to China and Vietnam, operating via its headquarters in both South Korea and the US.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake: </b>
    <a href="https://sp-edge.com/updates/7498">
      Last month,
    </a>
     Green Labs also received an investment of KRW 35 billion (~USD 30 million) from SK Square, an investment company that operates as a part of the South Korean conglomerate SK Group. The investment was expected to support Green Labs in further expanding its supply chain and distribution network for crops by its app subscribers. At the time, Green Labs also reported that it expects its revenue and subscribers (20,000 as of January 2021) to increase 5x and 2x, respectively, by 2022.&lt;/ul&gt;
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2022/01/20/south-koreas-agtech-startup-greenlabs-raises-140m-series-c-to-accelerate-global-expansion/">
      TechCrunch
    </a>
  </p>
</div>


Smart Farming

Green Labs raises USD 140 million in Series C funding

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 <p>Greeneye Technology, an Israeli startup that offers AI-based precision spray technology, has raised $20 million in a financing round. The investment was spearheaded by Deep Insight, and included participation from earlier investors Syngenta Group Ventures, JVP, Orbia Ventures, Eyal Waldman, as well as newcomers Iron Nation and Amol Deshpande.</p>
 
 <p>The company intends to use this capital to expand operations in the US and to advance the analytical abilities of its technology into new crops and resources. Presently, Greeneye aids farmers in cultivating crops like corn, soybeans, and cotton across approximately 200 million acres in the US.</p>

 <p>The startup's AI precision spraying technology is designed to identify weeds and accurately spray chemicals on them. This not only reduces environmental harm, but also eases financial burdens for farmers.</p>
 
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Greeneye Technology raises USD 20 million to advance technology and operations

PROMINENT_CATEGORY

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<p>Kilter Systems, a Norwegian company, has introduced an AI-powered autonomous farming robot that deals with weed control. The robot can navigate autonomously, identify and precisely target weeds among crops for pesticide use, reducing total chemical use. It can also adapt to manage a variety of crops. The company claims this AI-driven robot aims to boost crop yields and lessen the environmental impact of conventional farming practices.</p>

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Kilter Systems develops autonomous robot for precision pesticide application

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 <p>Weenat, a German agricultural platform developer, has collected EUR 8 million (~USD 8.68 million) in a series C funding round. The round was spearheaded by ECBF and saw participation from Pymwymic, LIBERSET, and IDIA Capital Investissement.</p>
 <p>With the raised capital, Weenat intends to further improve its meteorological sensors for the benefit of farmers and gear towards expansion.</p>
 <p>Established in 2014, Weenat offers an agricultural platform that delivers mobile and connected solutions to farmers. The company's main focus is on manufacturing sensors that supply data and water management solutions aimed at farmers. Weenat asserts that its 10,000 sensors have helped save 32 million cubic meters of water in 2023.</p>
 
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Weenat secures EUR 8 million in Series C funding to develop meteorological sensors

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 <p>LoneStar Tracking, a company located in the U.S., has developed AgriTech solutions that include advanced GPS tracking systems. They target farmers and agribusinesses, aiming to bring modern and rapid technology to farming operations and harvest capacity. </p>
 <p>The company's real-time GPS tracking system can connect to 72 satellites and provides accurate asset and livestock location data. The primary features of this solution include water tank-level monitoring, electric fence monitoring, wildlife tracking, soil moisture and pH monitoring, and pump control systems. These offerings are specially designed for the agricultural sector.</p>
 <p>The project lead at LoneStar expresses that this advanced technology will greatly improve farming operations and increase yield capacities. </p>
 
</div>

LoneStar Tracking launches AgriTech solutions using GPS technology

INCUMBENTS_PRESENT

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<p>AGCO, a worldwide leader in agricultural machinery and precision farming technology, has finalized a joint venture with Trimble, creating a new company, PTx Trimble. This new entity aims to deliver retrofit applications to farmers in the mixed-fleet precision agriculture market.</p>
<p>This partnership will enhance AGCO's existing smart farming technologies, including but not limited to autonomous guidance, networked farming, precision spraying and data management. These developments will aid in the company's ambition to surpass its aggregate revenue target of USD 2 billion by 2028. </p>
<p>Ownership of PTx Trimble is split between AGCO and Trimble at 85% and 15% respectively, and its financials will be consolidated into AGCO’s accounts. Funding for this transaction has been realized through AGCO's recently issued senior unsecured notes amounting to USD 1.1 million, a term loan facility of USD 500 million, additional borrowings, and ready cash.</p>
 
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AGCO and Trimble form JV for precision agriculture solutions

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 <p>Orchard Robotics, a company specializing in the development of operating systems for robots and AI in precision agriculture, recently raised 3.8 million dollars in seed funding. This round of funding was led by General Catalyst, and included contributions from numerous venture capital firms and individual angel investors.</p>

 <p>The fund raised will be allocated towards building robots and developing AI technologies aimed at precision crop management. At present, Orchard Robotics has developed an AI-driven camera that is capable of collecting precise data when attached to farming vehicles. This technology is used extensively by large-scale growers to enhance their yield by closely monitoring their crops and the quality of their produce.</p>

 <p>Founded in 2022, Orchard Robotics is geared towards developing robots and AI to aid fruit farmers in precise crop management. The firm has spearheaded the development of an AI-powered camera system capable of collecting precise data on fruit from each tree in an orchard. This cutting-edge technology assists farmers in monitoring their crops and aids in decision making.</p> 

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Orchard Robotics raises USD 3.8 million in seed funding to automate precision crop management

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 <p>CropX, a crop management software creator specializing in soil and weather predictions, recently disclosed its API integration with WiseConn, a precision drip irrigation solution provider.</p>
 <p>This merger allows CropX users to incorporate WiseConn's intelligent irrigation system, facilitating access to irrigation and fertilization data directly on the platform. CropX's decision support is anticipated to boost dynamic irrigation scheduling, allowing optimal water usage depending on live conditions for each crop and field.</p>
 
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CropX and WiseConn announce digital integration

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 <p>Hendrix Genetics, an animal genetics company, has collaborated with HerdWhistle Technologies, a precision livestock firm, to create and market precision farming technology for pig farmers.</p>
 <p>The two companies have designed an automated multispectral imaging system to collect data on pigs, giving insight on their feed efficiency and health.</p>
 <p>After a five-year partnership since the conception phase, Hendrix Genetics is the first to utilise HerdWhistle's technology based on the data obtained from thousands of animals from their Hypor nucleus farms.&nbsp;</p>
 
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Hendrix Genetics partners with HerdWhistle for swine farming technology

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 <p>John Deere is collaborating with Kinze Manufacturing and Ag Leader Technology to incorporate their planting and display products with the John Deere Operations Center, which will facilitate farmers in combining their agricultural data.</p>
 <p>Under this agreement, the planting technology would be licensed by John Deere to Kinze and Ag Leader. This will guarantee that their customers continue to have access to True Speed and SureSpeed technologies.</p>
 <p>In addition, there are plans to investigate further technology collaborations, with the specifics to be revealed as they mature.</p>
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John Deere partners with Kinze and Ag Leader for data integration

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 <p>Amazon Web Services (AWS) is collaborating with Ever.Ag, a provider of agricultural supply chain software and services. This partnership integrates AWS' GenAI capabilities found on the SageMaker platform with FieldAlytics.</p>
 <p>Leveraging AWS cloud computing specifically built for machine learning, the collaboration aims to introduce crop growth modeling and image change detection tools. These new developments will aid in early intervention strategies and facilitate better crop management.</p>
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All Updates