Sep 8, 2022Investment round brings $40 million to Taranis
Crop intelligence provider Taranis has raised $40 million in Series D funding, bringing the company’s total funding to $100 million.
“Taranis has had tremendous growth over the past seven years with a goal of delivering advanced crop intelligence to help growers deal with soaring costs and a constant need to increase productivity and yield,” Mike DiPaola, chief commercial officer for Taranis, said in a news release. “More than 100 agricultural retailers and advisors are sharing our journey as innovation partners, relying on Taranis as the critical source of crop intelligence insights to drive better outcomes for their growers.”
The Taranis crop intelligence platform uniquely leverages leaf-level imagery and a robust artificial intelligence system, backed by the industry’s largest crop data set containing more than 200 million artificial intelligence data points, to create actionable insights that can be delivered straight to growers via their agronomist. In the most recent growing season, Taranis delivered crop intelligence insights to retail crop consultants and growers, empowering more informed decision making to help make crop management more efficient. This partnership helps improve business at the retail level while delivering significant benefits to their grower customers, creating a stronger economic environment for rural communities.
“The value we find from Taranis is that it really helps complement our crop consulting and scouting programs,” Glen Franzluebbers, director of professional ag services for Central Valley Ag in Oakland, Nebraska, said in the release. “We are actually doing focused and directed scouting versus random scouting so our crop consultants can be more efficient and make better decisions. When our co-op is successful, and our customers are successful, that trickles down to our employees and our local communities.”
Inven Capital led the investment round.
“Agritech innovations are critical in advancing sustainable agriculture, making the most efficient use of our Earth’s resources, and securing the future of farming,” Petra Sokolová, investment manager at Inven Capital, said in the release.
“Technologies that facilitate crop intelligence and agricultural carbon credits such as Taranis’ solutions have large-scale potential to improve sustainability and enduring prosperity,” Sokolová said in the release. “We are excited about the impact they will have in the local communities they serve, and to support them in their mission.”