December 5, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

BeeHero CEO Omer Davidi explained, “BeeHero’s mission is to deliver pollination accountability for commercial crop growers, by leveraging big data analytics and machine learning to help them mitigate pollination risk. Thus allowing them to focus on producing more food, securely, and sustainably.”

In support of this mission, the pollination pioneer announced the closing of an oversubscribed $42 million Series B led by Convent Capital, who was joined by General Mills, Cibus Capital (formerly ADM Capital), Rabobank, MS&AD, Firstime, J-Ventures, Plug&Play, iAngels, Gaingels, UpWest, and others. 

“We have seen firsthand,” said Davidi, “the challenges our growers face from insufficient and inadequate pollination. To offset this, more and more farmers are adopting new technologies to meet the nutritional needs of our growing population.”

Billions and the Bees

On November 15 of this year the world population surpassed 8 billion on its way to breaching 10 billion by 2050. Connected with the expectation is the need to produce more food than has been produced in the past 10,000 years combined (staggering!). 

To accomplish this, it would require a 70 percent increase to today’s global food output. But we are approaching our limit of arable land, and between now and 2030, forecasts are that we will see a meager 4 percent increase in acreage. Therefore, this increase in production must come from improved yields rather than greater acres.

However, even if we do everything right, our best efforts would be for naught if not for bees and pollination.

Bees are our critical partners, safeguarding human well-being and the success of our agricultural production systems. They are a key component to food security, with one out of every three bites of food we eat being dependent on the work they do as pollinators. They ensure biodiversity, healthy ecosystems, and human nutrition, with 75 percent of the world’s fruit and seed crops dependent, at some level, on natural pollination for continued production.

From apples to almonds to alfalfa grown for cattle feed, every year crops valued at $20 billion depend on bees, which also produce $150 million in honey on an annual basis.

BeeHero’s research into bee health and welfare and managed pollination is playing a pivotal role in addressing these challenges.

How?

BeeHero stated that it’s a data-driven technology company redefining pollination in commercial agriculture by using advanced analytics, AI, and low-cost IoT sensors to bring transparency and efficiency to the complexities of commercial crop pollination.

The company’s Precision Pollination as a Service platform enables commercial beekeepers to remotely track and monitor their hives, using data to bring a new understanding and connection between farmers, bees, and their stewards, the beekeepers.

“Pollination was the only expense we didn’t have data for to inform our decision-making,” said Brandon Rebiero, co-founder, Gold Leaf Farming. “With no visibility into the effectiveness of the pollination contracts we sign, we were literally betting the ranch every February. So we started to ask ourselves, how can we solve for that? Right around the time we realized there was this black hole in our opex, we met BeeHero.

“For us, BeeHero represents a paradigm shift in accountability. With their Precision Pollination, we now have the data we need to make sure we get the absolute optimal outcome.”

BeeHero has spent several years building the largest bee and data set in the world, and continues to work to gain greater understanding about how this data can be used to further optimize pollination.

“As an impact growth fund that solely focuses on the agrifood sector, supporting BeeHero falls right within our sweet spot,”  said Adriaan Vrij, principal, Amsterdam-based Convent Capital.

“BeeHero provides farmers and beekeepers the opportunity to optimize the pollination process while simultaneously maintaining the welfare of bees. This conservation of pollinators in combination with BeeHero’s precision pollination works to ensure agricultural productivity and output, essential to sustaining our food system,” continued Vrij. “BeeHero’s Precision Pollination as a Service is an exceptional business proposition. We are proud to have led this round and are looking forward to taking BeeHero to the next level.”

The funding from this round will serve to further support ongoing R&D for BeeHero, which noted that moving forward, the company plans to integrate new tools into its platform to further support growers with an even more accurate, real-time view of their crop’s development, which in-turn will lead to better decision making and crop outcomes.

“BeeHero is bringing breakthrough innovation to an essential but often overlooked part of the food ecosystem, pollinators,” said Johnny Tran, managing director, 301 INC, General Mills. “As an industry, we need innovation in all parts of the value chain, and BeeHero is using data to reimagine the classically analogue connection between growers, beekeepers, and bees. “

Tran continued, “At 301 INC, we exist to elevate founders who are building the food system of tomorrow, and we are proud to support BeeHero’s efforts to build pollination transparency, efficiency, and resiliency through technology.”

“We are thrilled to support BeeHero as they continue to rapidly scale their precision pollination services,” added Alastair Cooper, head of venture, Cibus Capital. “BeeHero is the perfect example of how technology can bring value to all stakeholders in an agricultural ecosystem, supporting bees, beekeepers, and farmers and ultimately delivering more sustainable and healthier foods to consumers.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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