PlanetWatchers Raises $11m Funding For Expansions Plans
PlanetWatchers Raises $11m Funding For Expansions Plans
PlanetWatchers, a crop monitoring and technology firm, has raised $11 million as part of its Series A fundraising round in order to support its growth objectives.
The business supports crop insurers and the agricultural sector by using advanced machine learning to scale up the verification of cover crops, tillage, planting dates, acreage, crop categorization, and weather damage.
Additionally, PlanetWatchers employs Synthetic Aperture Radar (SAR) data to deliver precise insight at scale, lowering costs and boosting client satisfaction.
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The money raised will enable the business to expand its commercial teams and make investments in its SAR-based data analytics in order to meet growing market demand and address concerns with global food security.
PlanetWatchers uses SAR, a potent remote sensing technique that bounces microwave signals off the surface of the Earth, to identify physical characteristics and track changes over time, giving its clients insightful information.
PlanetWatchers Raises $11m Funding For Expansions Plans
Moreover, Seraphim Investment Trust PLC and Creative Ventures co-led the funding round. The Trendlines Agrifood Fund, BIG Capital and Ridgeline Partners also invested in the $11 million funding round too.
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“I’m delighted that PlanetWatchers can now take the next steps on our ambitious journey to tell the story of every field. We are thrilled to have the support of both Serpahim and Creative as co-leads and the other investors in the round. We look forward to expanding our market-leading technology and our commercial footprint together,” said Dominic Edmunds, Chief Executive for PlanetWatchers.
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Andre Ronsoehr, Principal at Seraphim Space, commented: “PlanetWatchers have achieved an awful lot over the past year, and I am proud of the entire team at the company. They have established themselves as a great partner to major companies that are vital in ensuring today’s global food supply chains, namely crop insurers and agricultural companies. The team’s capabilities in analysing synthetic aperture radar (“SAR”) data and giving customers actionable insights are second to none, and we are very happy to back them in fulfilling their full potential.”
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PlanetWatchers Raises $11m Funding For Expansions Plans
Champ Suthipongchai, General Partner at Creative Ventures, added: “Rarely do I see a company so well managed and executed as PlanetWatchers, thanks to its CEO, Dominic, and its executive team. The company continues to grow by leap and bounds since our initial investment and is clearly a category leader within the crop insurance industry. I have utmost confidence in its potential to upend multiple other industries through its satellite aperture radar (“SAR”) technology.”
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