WESTFIELD, Ind. and Tel Aviv, Israel, September 7, 2022 — Taranis, the leading AI-powered crop intelligence provider, announced today that it has raised $40 million in Series D funding. The round was led by Inven Capital, a European climate tech fund, with participation from new investors Seraphim Space Investment Trust (‘SSIT’) and Farglory Group, and strong backing from existing investors: Vertex Growth, Viola Ventures, Vertex Ventures Israel, La Maison Partners, Hitachi Ventures, K3 Ventures, UMC Capital, OurCrowd, Micron Ventures, iAngels Ventures, Presidio Ventures (Sumitomo), Cavallo Ventures (Wilbur Ellis), Finistere Ventures, and Eyal Gura. This latest round brings Taranis’ total funding to $100 million.
“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.”
Taranis’ crop intelligence platform uniquely 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.
Petra Sokolová, Investment Manager at Inven Capital, said: “Inven Capital is delighted to lead this important 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. Technologies that facilitate crop intelligence and agricultural carbon credits such as Taranis’ solutions have large-scale potential to improve sustainability and enduring prosperity. We are excited about the impact they will have in the local communities they serve, and to support them in their mission.”
“Responsibly increasing global food supply is a critical challenge we face today. We have been following the Agritech market for quite some time as we see the value of using Earth observation data to optimize crop yields,” said Andre Ronsoehr, Investment Principal at Seraphim Space Manager. “When we discovered Taranis, they immediately stood out to us, given their sub-millimeter imaging capabilities. These images unlock early detection of nutrient deficiencies and diseases which is the key to improving crop yields.”
“I’m excited about our growth trajectory,” said Bar Veinstein, Taranis’ CEO. ”The new funding will allow us to accelerate our 3-year plan, rapidly expand our operations, and deliver transformative technology to the market faster. We are delighted to welcome our new investors and continue to be grateful to our existing investors for their support.”
Taranis is the world’s leading AI-powered crop intelligence platform, 100% focused on helping ag advisors demonstrate value to their growers and build better relationships through full-service, leaf-level data capture that allows them to accelerate decision making, simplify management, and improve their bottom line. Since starting in 2015, Taranis has worked with the world’s top agricultural retailers and crop protection companies, serving millions of acres for customers in the United States, Brazil, and Europe. Taranis has offices located in Westfield, Indiana, Tel Aviv, Israel, and Campinas, Brazil. To learn more visit www.taranis.ag.
Inven Capital is a European VC fund with EUR 430m fund size focused on later-stage climate tech investments in Europe & Israel, backed by CEZ Groupand European Investment Bank (EIB). Inven Capital’s strategy is to seek out investment opportunities in innovative and fast growing climate tech startups, with focus on CO2 footprint reduction. It primarily focuses on later-stage growth investment opportunities with a sound business model proven by realized revenues and long-term growth potential. The fund is a member of Invest Europe (European Private Equity and Venture Capital Association), VentureESG and Cleantech for Europe. Since 2015, INVEN CAPITAL has invested in a total of fourteen companies (e.g. CyberX, Driivz, Sonnen, Sunfire, tado, Forto or Zolar), and made successful exits from three of them. For more information, visit www.invencapital.cz.
Seraphim Space Investment Trust plc is the world’s first listed fund focused on SpaceTech. The Company seeks exposure predominantly to early and growth stage privately financed SpaceTech businesses that have the potential to dominate globally and that are category leaders with first mover advantages in areas such as climate, communications, mobility and cyber security.
The Company listed on the London Stock Exchange on 14 July 2021, following an oversubscribed IPO raising £150m of fresh capital. As 31 March 2022, the Company had net assets of £250m and exposure to 23 SpaceTech companies.
Seraphim Space Investment Trust plc is managed by Seraphim Space Manager LLP.
Further information is available at: https://investors.seraphim.vc