Crop Intelligence Platform Developer Taranis Raises $40 Million

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Taranis, the leading crop intelligence provider, announced today that it has raised $40 million in Series D funding. This latest round brings Taranis’ 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,” says Mike DiPaola, Taranis’ Chief Commercial Officer. “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.”

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 AI-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,” says Glen Franzluebbers, Director of Professional Ag Services, Central Valley Ag, Oakland, Nebraska. “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 is delighted to lead this important investment round,” says Petra Sokolová, Investment Manager at Inven Capital. “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.”

“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.”

About Taranis:

Taranis is committed to protecting the future of agriculture prosperity as the new standard of crop intelligence by advancing the way we work. We do that with a firm focus on helping retailers, advisors, and agronomists demonstrate value for their customers and build better relationships. Through full-service, leaf-level data capture, you get faster decision making, smarter use of resources, and higher profitability. Billions of pixels are collected-which turn into precision insights-so you can get analysis tailored to meet your growers’ goals. For those who want to be a leader in their field and lead the way to more opportunities in our communities, it’s time for Taranis. To learn more visit www.taranis.ag.

About Investor, Inven Capital:

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 Group and 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.