Semios, a Canada-based precision farming platform for permanent crops announced that it has raised $75 million (£57.65m) in private equity funding to boost the development of its data-driven crop management solution.
To date, the company has secured a total of £88.4m in external capital. The funding was led by Morningside Group, a Boston-based private equity and venture capital firm. Semios CEO and founder, Dr. Michael Gilbert said: “This investment will help us continue to deliver innovative solutions to the most pressing problems growers have told us they face."
In November, Titan Class, an Australia-based agricultural IoT company received an unspecified investment from Cisco, with whom it had partnered on an agritech offering. Cisco said: “With a single Titan Class deployment, farmers can use up to a thousand sensors without restriction. These sensors have been proven on operating farms to reliably communicate over several kilometers from a simple on-farm communications tower and each sensor has inexpensive commodity batteries that can last for years.”
Plenty of initiatives are taking place with regard to IoT for agriculture. Oizom, an India-based IoT solutions provider is leveraging Semtech’s LoRa devices and Tata Communications’ LoRaWAN-based networking infrastructure for its latest Agribot smart agriculture solution, which is designed to provide farmers real-time insight of their crops health by monitoring soil conditions, including humidity and pH levels. Marc Pegulu, vice president of IoT for Semtech’s Wireless and Sensing Products Group, said: “With LoRa devices and the LoRaWAN protocol’s proven capabilities, Oizom is able to accelerate a product to market quickly while capturing a wide range of soil data in a variety of environmental temperatures.”
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