Sep 30, 2021Ceres Imaging secures $23M in funding to fuel development of AI in agriculture
Ceres Imaging, a precision farming provider that uses aerial imagery and data analytics to help growers improve their farming practices, announced Sept. 29 that it has raised $23 million in Series C funding with investments led by XTX Ventures and Remus Capital, joined by Insight Partners and B37 Ventures.
With this new investment, Ceres Imaging will further expand its end-to-end solutions suite, supporting the development of more advanced AI applications that improve irrigation management practices and resource use efficiency at the farm level.
“We know AI is the future of farming when it comes to maximum efficiency, sustainability and profitability across an operation,” Ashwin Madgavkar, CEO and founder at Ceres Imaging, said in a news release. “Coupling AI with remote sensing technologies, allows agriculture stakeholders to analyze their nutrient and water management in ways that wouldn’t have been possible just a few years ago.”
“We’re proud to partner with Ceres Imaging and this funding means they can expand geographically and further enhance their product offering, allowing growers to improve their farming practices and ultimately become more profitable. We’re excited to support Ceres on this journey,” said Alexandre Perrin, Head of XTX Ventures.
Founded in 2014, Ceres Imaging provides the science behind the precision farming revolution, powering more efficient farming operations in the Americas and APAC. Ceres Imaging’s growth is rapidly accelerating as the precision agriculture industry becomes a key solution to farmers facing climate change and critical water management issues across the world. Ceres Imaging’s technology deploys real-time data via an innovative digital mobile interface that allows growers to quickly quantify patterns of crop stress and prioritize corrective actions.
“The marriage of intelligence and plant level detail continues to be a combination of capabilities uniquely delivered by Ceres Imaging. Insight recognizes how this transformative technology has the potential to power precision agriculture sustainably,” said Gary Survis of Insight Partners.