FluroSat has also received funding from cotton industry-focused public-private partnership CRDC for its remote crop imaging platform.
Australia-based agricultural imaging provider FluroSat has received A$1.5m ($1.2m) in a round backed by research institute Commonwealth Scientific and Industrial Research Organisation (Csiro), Australian Anthill Magazine has reported.
VC firm AirTree Ventures also contributed capital, as did a consortium of unnamed agricultural investors led by CRDC, a cotton industry-focused research and development partnership between the Australian government and cotton growers.
Csiro likely participated through the $150m Innovation Fund launched in October 2017 under the management of Csiro’s Main Sequence Ventures investment arm.
FluroSat has developed remote monitoring systems for agricultural crops that utilise meteorological data and detailed imaging beamed from drones and satellites. The technology works with artificial intelligence to deliver daily farming guidance bulletins to FluroSat’s clients.
The cash will be used to facilitate business growth. FluroSat also hopes to tap the investment consortium’s expertise in deep tech, crop health science, data analytics and machine learning.
FluroSat has not disclosed equity previously, however the business received an undisclosed amount of grant funding after graduating from the 2017 cohort of incubator firm Cicada Innovations’ Growlab agtech initiative.
Anastasia Volkova, chief executive and founder of FluroSat, said: “We believe that receiving the actionable insights required to manage a farm should be as easy as viewing your morning newsfeed.
“Our goal is to give growers and agronomists the cues to make decisions that directly affect return on investment.”
