Startup utilizing artificial intelligence and computer vision for farming receives $15M in funding
James Carroll Â for Vision Systems Design: Â Prosperaâ€”anÂ agricultural technology,Â or 'digital farming' company that utilizes advanced data analytics,Â computer vision, andÂ artificial intelligenceÂ to transform and enhance farm productionâ€”has received $15 million in a Series B funding round led by Qualcomm Ventures.
After this funding round, which also included Cisco Investments, ICV, and existing investor Bessemer Venture Partners, the total investment in the company is at $22 million.
Prospera explains that its digital farming system aims to collect, digitize, and analyze vast amounts of farm data and optimize all aspects of production, from agronomy to labor management. It also enables agro-businesses to turn their farms into fully digital plants, with tighter control, higher productivity, and more predictable output, according to the company.
"Prospera changes our world in the simplest terms; it transforms the way our food is grown," said Adam Fisher of Bessemer Venture Partners, an early investor in the company who participated in the latest round. "Digitizing farm production will be essential to meeting the challenges of feeding a rapidly growing population, with ever increasing demands for quality and reliability. We are excited to work with Prosperas team as they continue to expand their leadership in the space."Â
The technology begins with aÂ solar-poweredÂ sensor module that may include an RGB camera, a multispectral camera, a hyperspectral camera, and a video camera, according to aÂ patent filed by the company.Â Â In addition to the sensor module, a micro weather station and soil probes, as well as a scouting app that digitizes agronomical inspections, are included. Additionally, a hub integrates data from sensors and sources. After a sensor module (or modules) are installed, the Prospera system monitors crops 24 hours a day, 7 days a week. Â Full Article:
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