Tekfen Ventures, Cisco Investments and Qualcomm Ventures are set to exit the crop monitoring technology developer later this year in a deal with Valmont Industries.
Agricultural equipment producer Valmont Industries agreed on Wednesday to acquire Israel-based agriculture technology provider Prospera Technologies for approximately $300m, allowing corporates Tekfen, Qualcomm and Cisco to exit.
Prospera has developed a software platform which uses machine learning and computer vision technology to monitor and analyse the growth and health of crops, recording climate and visual data from fields to provide actionable information for farmers.
The deal is expected to close by the end of next month and follows a two-year…
