Taranis Raises $40 Million to Advance Crop Intelligence and Unlock Growth Opportunities for Agribusinesses
Taranis, a leading crop intelligence provider, has announced 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, NE. “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.”