Taranis, an Israeli agtech startup that offers a crop intelligence platform, raised $40 million in a Series D funding round led by Inven Capital, a European climate tech fund. The round brings Taranis’ total funding raised to date to $100 million.
Food insecurity is a major concern for the world today. According to the World Food Programme, as many as 828 million people go to bed hungry every night, and the number of those facing acute food insecurity has soared – from 135 million to 345 million – since 2019. A total of 50 million people in 45 countries are teetering on the edge of famine.
And Israel has always been at the forefront of agtech since the early days of the first Zionist settlements. The country may now be known more as Startup Nation for all of its success in the high tech world. But until recently it was best known for its agricultural innovations. For example, in August, CropX Technologies, Ltd., an Israeli agtech company, launched a new capability for its farm management system that continuously tracks the movement of nitrogen and salts in the soil. And also in August, Groundwork BioAg, a global bioagriculture company, leverages the natural power of mycorrhizal fungi to improve the productivity, sustainability and profitability of commercial agriculture and expand regenerative agriculture practices, raised $18 million.
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Founded in 2015, Taranis boasts that its crop intelligence platform leverages leaf-level imagery and is powered by cutting-edge machine learning, trained by the industry’s largest crop dataset containing over 200 million AI-data points. In the most recent growing season, Taranis delivered millions of actionable insights to ag advisors and growers, empowering decision making, simplifying crop management, and improving their bottom line.
“We see a tremendous need for crop intelligence at scale as growers deal with soaring costs and a constant need to increase productivity and yield,” said Ofir Schlam, Taranis’ President & Co-Founder. “Over 100 agricultural retailers and advisors are sharing our journey as innovation partners. They rely on Taranis as the critical source of insights into crop health and threats across millions of acres, to drive better outcomes for their growers.”