Slovenia-based pest insect monitoring and forecasting platform Trapview has raised €10 million in a Series B funding to accelerate the commercialisation of its digital insect monitoring and forecasting solutions. The round was led by European Circular Bioeconomy Fund (ECBF) and backed by Demeter and Pymwymic.
The new cash in the wallet will accelerate the startup’s commercial development in Brazil, Europe, starting with France, Italy, Spain and in the U.S.
Developed by the Slovenian company EFOS, Trapview’s automated traps send real-time data to farmers about the pest situation in their fields and use AI to analyse and predict the development of pest dynamics. This enables farmers to take informed and timely crop protection measures in a targeted manner instead of spraying entire crops with pesticides preventively. It gives farmers the possibility to work more sustainably and efficiently and significantly reduce production costs by reducing pesticide usage.
The agritech claims it can monitor more than 50 insect species, bringing value to a large spectrum of farmers and other stakeholders in agriculture. With thousands of traps deployed in fields, the company offers a big database of pest data and predictive algorithms. Its solutions are present in more than 40 countries around the world and in crops ranging from tomatoes in Brazil and almonds in California to vines in Italy and salad greens in France and Spain.
Matej Stefancic, CEO and co-founder of EFOS said: “Modern, sustainable insect crop protection is almost impossible without accurate, reliable, and up-to-date data about pest population and development. Trapview offers complete solution in this space.”
Stéphane Roussel, partner at ECBF, added: “With thousands of AI-powered pest control solutions deployed in the field, Trapview offers a platform for remote insect monitoring and forecasting. In recent years, despite COVID, Trapview has gained significant momentum with farmers and value chain partners in Latin America, Europe and other regions. Our investment will give Trapview the resources to accelerate international expansion and meet the growing demand for its automated traps and software solutions.”