Agtech Intelligence Company Taranis Raises $30 Million Series C

Taranis’ system analyzes ultra-high-resolution images of crops to detect early signs of diseases, insect infestations, nutrient deficiencies, water damage, and other risk factors

Tel Aviv-based agricultural intelligence company Taranis-Visual Ltd. announced Tuesday it has raised $30 million in a series C round led by Vertex Growth, Asian conglomerate The Kuok Group, through its venture capital arm K3 Ventures, and Japanese multinational Hitachi Group.

Additional participants in the round, which brings Taranis’ total funding raised to date to $60 million, include Mitsubishi UFJ Capital, iAngels, Gal Yarden, the president of the EMEA division at drip-irrigation company Netafim Ltd., and existing investors Vertex Ventures Israel, Viola Group, Finistere Ventures LLC, and equity crowdfunding company OurCrowd Ltd.

Founded in 2015, Taranis operates fleets of drones and low-flying aerial vehicles capable of capturing ultra-high-resolution imagery mid-flight. Taranis’ artificial intelligence system analyzes these images and aggregates data from satellite images, sensors, and smart irrigation systems, to detect early signs of crop diseases, insect infestations, nutrient deficiencies, water damage, and other crop risk factors. Taranis’ system can cover an area of 400 dunams (400,000 square meters) in just six minutes, according to the company.

“Until recently, growers have had to wait on time-consuming manual scouting to assess threats, formulate an action plan, and react. Our ag intelligence service takes out the guesswork and brings hyperlocal, real-time insights from the fields to your fingertips.” said Ofir Schlam, CEO and co-founder of Taranis.  

Taranis is fortunate that its market was not hit by the recession, Schlam said. Since it serves farmers Taranis remained active throughout the period, he added. “The U.S. went into shock from mid-March through early April, but then we went back to work and the farmers went back to work,” he said. “Our industry is one of the few that benefited from the crisis,” he added.

According to Avner Gideoni, Taranis’ Israel country manager, the company’s technology is based on four areas: artificial intelligence, software, hardware, and operations. “The revolution the agriculture sector is undergoing today is parallel to the one cybersecurity underwent in 2010,” Gideoni said in an interview with Calcalist.

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