Looking to reach more than 500 million mostly underserved farms worldwide, agtech startup AgroScout has raised $7.5 million in a Series A funding round. The company provides farmers with a comprehensive crop management solution, as well as a sustainability and carbon accountability tool. Including this round, the firm has raised just shy of $11 million.
Founded in 2017, AgroScout uses 5 layers of datapoints and generates an analytics output to create an actionable crop management plan. Included, the platform also monitors for pests and diseases, allowing for the reduction in pesticides when possible.
Ultimately, AgroScout’s goal is to provide farmers, agribusinesses, and food manufacturers with improved yield predictions prior to harvest all in a sustainable, and environment-friendly manner.
Leveraging this technology, the firm wants to bring this efficient and accountable farming technology to an estimated 500 million farms across the planet that remain underserved. In opposition to competing services, AgroScout sets itself apart with its low-cost data collection mechanisms and simplicity of the system for the grower.
"Our decision to rely fully on stable off-the-shelf hardware has paid off and allowed us to focus our efforts on our remote agronomy analytics, positioning AgroScout as a true anywhere, anytime provider,” comments CEO Simcha Shore. “We are now proud to bring on new partners to expand our platform to almost any field crop and to offer sustainable and efficient remote agronomy services to most of the 500 million unserved growers."
AgroScout’s Series A round was led by Kibbutz Yotvata, and saw participation from investors including Agriline, Kibbutz Yiron, The Trendlines Group, several angel investors, and a grant from the Israel Innovation Authority.