With the rapid increase of the global population, 9 billion people are expected to be present on planet Earth within 30 years. In such a situation, a major crisis of food shortage worldwide is also highly likely. Estimates by numerous studies suggest that in this period, the yield generated through agriculture has to double in order to meet demand in a satisfactory way.
A major factor contributing to the food crisis is the lack of a reliable database on essential aspects on agriculture such as environmental conditions and threats such as parasites or diseases. Global market leader in precision agriculture, Israel based Taranis, has developed a popular platform driven by artificial intelligence, which has the potential to provide farmers around the world with insights extracted through inputs of high-resolution images and sensitive sensors passed through a layer of artificial intelligence, which provide real time data with greater than 90% accuracy.
The technology has made a favorable impression on a number of investors. The company announced that through the application of a Series B funding round led by Viola Ventures, they have managed to acquire $20 million, raising its total amount of funding activity to $30 million. Apart from Viola Ventures, other investors involved in the funding included Sumitomo Corporation, Finistere Ventures, Cavallo Ventures, Vertex Ventures, Nutrien, OurCrowd, Gal Yarden, and Eyal Gura.
The company has seen success with thousands of farmers across the United States, Canada, Argentina, Brazil, Australia, Russia and Ukraine through the maximization of crop yields and optimizing efficiency of operations in addition to efficient monitoring processes to identify possible hazards to the crops. With the influx of funding, Taranis is now looking forwards to spreading their geographical presence all around the world.
The company owns and uses a full fleet of Cessna aircraft to perform low-altitude photography operations that capture multi-spectral images within electromagnetic range, along with a registered sensor pod that greatly reduces blurs arising from motion. Taranis’s Platform has the capability to study approximately 50,000 acres each day, scanning a field as big as 100 acres in less than 10 minutes.
The images are integrated using AI and is further analysed minutely on the basis of grid segments. In addition to these pictures, the Taranis system also makes use of satellite and drone images along with a highly detailed weather forecast model to calculate stage of plant growth, height, diameter, flower count soil nutrients, temperature, pesticide application for a small fee of 5-20 dollars for each acre during each season.