Israeli agtech startup Prospera secures $7 million to scale its farming tech

Israeli agtech startup Prospera has raised $7 million in a round led by Bessemer Venture Partners for its AI solutions for farmers and agriculture.

Prospera’s tech uses cameras and sensors and leverages deep learning, computer vision and data science to take most of the guesswork out of day to day farming. Farmers are able to monitor crops and fields in real-time to stay on top of things like irrigation, pests, and nutrients.

The new funds will be used to further develop Prospera’s technology and scale its operations. The company has offices in Israel and Spain.

“The agriculture industry is a great candidate for applying pragmatic AI,” said Prospera CEO Daniel Koppel. The latest advances in cloud computing and sensor technology have now made it possible to develop analytic solutions like these in agriculture, he added. The agriculture economy is worth trillions of dollars a year.

“Prospera is generating unique and proprietary data on crops at a level of granularity which never before existed in the agriculture world,” said Adam Fisher of Bessemer. The firm expects investments in agtech to continue growing this year.

Prospera’s technology is being used in greenhouse farms in Israel, Europe, and North America thus far, including farms that supply large grocery chains like Walmart, Tesco, Aldi, and Sainsburys.

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