Agronomic analytics company, FluroSat, announced its successful closing of a new $4.6 million funding round backed by M12, Microsoft’s venture fund, Costanoa Ventures, Space Capital, Artesian/GRDC GrainInnovate Fund, Artesian Clean Energy Seed Fund, along with existing investors including CSIRO’s Main Sequence Ventures, AirTree Ventures and Telstra’s muru-D.
The new funding, together with over $3 million in federal grants from the Australian government, will be used to further improve agricultural yields in Australia as well as make FluroSat available to agronomists globally.
“Computational agriculture will help the world feed 10 billion people in the decades to come,” said Samir Kumar, Managing Director at M12.
“FluroSat’s machine learning-powered FluroSense platform empowers agronomists with actionable insights so they can scale helping more farmers make the right decision the first time.”
The company’s agronomic analytics engine helps agronomists and farmers to assess plant health, detect crop stress and direct input applications – all at a scale and accuracy never before possible thanks to the automation of mundane data processing and synthesis of the insights.
FluroSat Founder Dr Anastasia Volkova said, “Our agronomy customers help farmers to understand the past, act in the present and predict the future, but they can’t be everywhere at once. FluroSat’s mission is to scale their knowledge and science in a powerful, simple-to-use computing platform that keeps farms on track, in real time.”
FluroSat currently provides its solution to more than 1,000 users across eight countries, monitoring 10.8 million hectares of land. Its customer and partners base include Landmark, Nufarm, MicaSense, TerrAvion and Iteris.