Prospera Raises $15 Million to Help Farmers with AI-Powered Agtech
Prospera, a Tel Aviv-based startup, has successfully raised 15millioninaSeriesBfundingroundledbyQualcommVentures.CiscoInvestments,ICV,andexistinginvestorBessemerVenturePartnersalsoparticipatedintheround.ThisbringsProspera’stotalfundingto22 million, following their Series A round in July 2016.
The company’s technology leverages computer vision and artificial intelligence to help farmers analyze data collected from their fields. This data can be used to identify issues like pests and diseases, optimize crop production, and manage farm resources more efficiently.
Prospera plans to use the new funding to expand into new global markets, hire additional personnel for their delivery and customer-facing teams, and broaden their services to include more crops. They are particularly focused on expanding from indoor farms to outdoor farms, which accounts for a significant portion of farmland in the United States.
Since their Series A round, Prospera has acquired new customers in Europe, Mexico, and the United States, now boasting thousands of users. These include produce growers for major retailers like Walmart, Tesco, Sainsbury’s, and Aldi.
The company has also expanded its technology beyond pest and disease detection to encompass all aspects of farm production. This includes agronomy, operations, and labor management, all aimed at enhancing profitability for farmers.
Prospera sees potential partnerships with drone manufacturers like DJI and Agribotix, who are also active in the AgTech sector. They believe drones can provide valuable data streams that will further enrich their analysis and enhance their services for clients.
