Hummingbird Technologies, featured in the REAP 2016 Start-up Showcase, has just announced it has attracted investment from BASF and TELUS Ventures among others in a series B investment round.
Hummingbird Technologies analyses images of fields captured by aerial vehicles including drones and satellites to provide insights for precision agriculture.
Using a blend of analytics and artificial intelligence it processes the images to identify potential pest infestation, plant diseases or planting gaps and to offer precise harvest forecast predictions. Its in-field zone maps can be used by sprayers for the targeted application of fertilisers, crop protection products and growth regulators.
Will Wells, Chief Executive Officer, Hummingbird Technologies says: “We are delighted to have received investment from BASF and TELUS Ventures. We have a clear target to become the leading global remote sensing player in Ag Tech, and with such strong institutional backers, and technical expertise behind us, our journey towards achieving this goal has gathered serious momentum.”
“We want to support Hummingbird to develop new markets for its unique technology and establish new business models,” said Markus Solibieda, Managing Director, BASF Venture Capital who comments that colleagues in BASF’s Agricultural Solutions division are already cooperating with Hummingbird.
Agricultural experts from BASF UK have been working with the startup since 2016 and supply aerial images to farmers. Hummingbird analyzes these photos and gives farmers detailed maps of the various in-field zones for precision farming.
“We believe innovative companies like Hummingbird – that provide farmers with data-driven, user friendly platforms to drive decisions – have the potential for wide-scale adoption as farmers increasingly look for tools to improve their bottom lines and reduce their environmental impact,” said Rich Osborn, Managing Partner, TELUS Ventures. “Through our investment, we have the potential to change cultivation and help mature technology platforms to connect all aspects of the farm and food supply chain.”
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