Taranis harvests $7.5m series A
Posted on 05 May, 2017 by Thierry Heles, editor
Vertex Ventures has co-led a series A funding round for Taranis, a precision agriculture intelligence platform that aims to tackle crop disease and overuse of pest control.
Israel-based agtech developer Taranis closed a $7.5m series A round yesterday co-led by Vertex Ventures, a venture capital firm owned by Singapore’s sovereign wealth fund Temasek, and Finistere Ventures.
Eshbol Investments, Mindset Ventures, OurCrowd and angel investor Eyal Gura also backed the series A round.
Taranis has developed an analytics platform that is able to predict crop threats. The technology relies on deep learning, aerial imagery and sensors to pinpoint issues and ensure farmers can apply chemical and pesticide products with precision rather than on an entire field.
The money will go towards continued platform development and international expansion, with a focus on the US where the company is currently establishing an office. The company is already present in Argentina and Brazil, and is expanding into India and Russia as well.
Yanai Oron, general partner at Vertex Ventures, and Arama Kukutai, co-founder and partner at Finistere Ventures, will join Taranis’ board of directors.
Eshbol and OurCrowd previously co-led a $2m seed round in March 2016 that also included Mindset and Gura.
Oron said: “We invest in innovators with the ability to transform an industry and were drawn to Taranis’ exceptional leadership team, machine learning expertise, proven analytics platform and early on-farm successes.
“Taranis offers a comprehensive and affordable crop management solution, and the pest and disease prediction algorithms it developed set the company apart from its competitors.”
See more from this Government Report: Singapore
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