BASF and TELUS Ventures invest in AgTech startup

16.10.2019

BASF Venture Capital and Canada’s TELUS Ventures are among the lead investors in a series B investment round for British startup Hummingbird Technologies, a global leader in advanced crop analytics. Other main investors include Saudi Agricultural and Livestock Investment Company (SALIC) and the British investment firm Downing Ventures.

Hummingbird TechnologiesFounded in 2016, Hummingbird Technologies has developed a technology platform to evaluate the condition of agricultural fields. Hummingbird’s unique artificial intelligence, deep learning and imagery analytics solution uses proprietary algorithms driven by aerial images captured from satellites, planes and unmanned aerial vehicles. It processes image data to create precise harvest forecasts or accurately calculate how much fertilizer is needed. With its high-resolution system, Hummingbird can also locate potential pest infestation, plant diseases or planting gaps. These tools deliver real-time actionable recommendations, which both improve performance on farms through precise targeting of operations and inputs, as well as provide evidence-based justification and return on investment (ROI) proof for decision-making.

Within 24 hours, Hummingbird can provide farmers and their advisers with in-field zone maps that help them specifically target the application of fertilizers, crop protection products and growth regulators as well as selectively manage subsequent plantings. The main customers are progressive farm businesses which use this technology to manage their existing fields more efficiently and thus achieve significant yield increases and cost savings. There are approximately 2.2 billion hectares of agricultural land available worldwide. Key areas for the use of advanced crop analytics include: Russia, Ukraine, China, the United States, Australia, Canada, the United Kingdom and Brazil.

More information
www.hummingbirdtech.com

 

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