Tuesday, 23 July 2019 13:12

FluroSat raises $4.6 million in new funding round Featured

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FluroSat raises $4.6 million in new funding round Image Stuart Miles, FreeDigitalPhotos.net

Agronomic analytics company FluroSat has raised $4.6 million in a new funding round, with the funds to be used to further improve agricultural yields in Australia as well as making FluroSat available to agronomists globally.

The new funding round was backed by M12, Microsoft’s venture fund, Costanoa Ventures, Space Capital, Artesian/GRDC GrainInnovate Fund, Artesian Clean Energy Seed Fund, along with existing investors including CSIRO’s Main Sequence Ventures, AirTree Ventures and Telstra-backed accelerator muru-D.

Funding for FluroSat includes more than $3 million in federal grants from the Australian Government.

“Computational agriculture will help the world feed 10 billion people in the decades to come,” says Samir Kumar, managing director at M12.

“FluroSat’s machine learning-powered FluroSense platform empowers agronomists with actionable insights so they can scale helping more farmers make the right decision the first time.”

FluroSat’s agronomic analytics engine helps agronomists and farmers to assess plant health, detect crop stress and direct input applications (all at a scale and accuracy never before possible) “thanks to the automation of mundane data processing and synthesis of the insights”.

FluroSat founder Dr. Anastasia Volkova said, “Our agronomy customers help farmers to understand the past, act in the present and predict the future, but they can’t be everywhere at once. FluroSat’s mission is to scale their knowledge and science in a powerful, simple-to-use computing platform that keeps farms on track, in real time.”

FluroSat says it currently provides its solution to more than 1000 users across eight countries, monitoring 10.8 million hectares of land, with customer and partners including Landmark, Nufarm, MicaSense, TerrAvion and Iteris.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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