May 23, 2024

By Lynda Kiernan-Stone, Global AgInvestment Media

Silicon Valley innovation accelerator NEC X announced its latest investment in Verdi Expeditions, the world’s first scalable farm automation and personalized plant healthcare platform.

Through this investment, NEC X joins an impressive list of Verdi’s existing investors including SVG Ventures, which is part of NEC X’s growing partner ecosystem offering invaluable expertise, resources, and opportunities, and which fostered the connection between NEC X and Verdi. 

In connection with this investment, NEC X will collaborate with Verdi to enhance the company’s technology and to expand its geographic reach while augmenting NEC’s CropScope initiative – a platform that innovates operations with digital agriculture utilizing AI and data analytics.

This joint effort will advance farm irrigation practices in Portugal with Kangome Co. Ltd, while at the same time, CropScope will empower Verdi’s automation capabilities and expand support for agricultural production. 

The overarching goal of this partnership exemplifies the mission of NEC X’s Elev X! Programs which are designed to foster strategic alliances that bridge technological gaps, drive innovation, and accelerate transformative startups on a global scale. 

It also signifies Verdi’s entry into Elev X! Boost, an acceleration program that drives growth and scale with advanced tech support, strategic partnerships, and NEC’s unrivaled resources. 

NEC X is a powerhouse and curator of disruptive startups backed by the global technological leadership of NEC. Leveraging NEC’s 125 years of IT and network expertise, NEC X’s approach transforms visionary ideas into commercial successes. Its Silicon Valley programs – Elev X! Ignite and Elev X! Boost –  arm early-stage startup founders with the tools to fast-track their development and adoption, fueling them from inception to launch by offering connections with its 45,000 patents, global network of partners, mentors, and advisors; its reach in more than 55 international markets, and $8 billion R&D ecosystem. 

“Our strategic partnership, collaboration and integration with NEC X is invaluable as we enhance our AI capabilities and scale our platform to reach new markets. With NEC’s international reach and deep sector expertise, we are uniquely positioned to be a global leader,” said Arthur Chen, CEO and co-founder, Verdi. “NEC X’s support is more than an investment – it’s a partnership focused on startup success.”

Founded in 2020 by Canadian entrepreneurs Arthur Chen and Roman Kozak, Verdi is solving the scaling challenges that have so far been preventing the widespread adoption of farm automation. Its intelligent devices transform existing farm irrigation equipment into smart systems capable of AI-powered automation, enabling farmers to boost yields and workforce productivity while reducing the costs associated with the integration of technologies into their operation. 

Verdi also has driven sustainability impacts for its customers, which include the world’s largest food brands, by saving them more than 30 million liters of water. 

“With increasingly severe weather and resource scarcity globally, it’s clear that we need new, innovative agricultural infrastructure that is both efficient and sustainable,” said Shintaro Matsumoto, president and CEO, NEC X. 

This latest investment also aligns with NEC’s long-term commitment to promote sustainable and profitable farming practices, evident through the development of its AI-enabled agricultural information and communication technology (ICT) platform, CropScope, and the establishment of joint ventures such as DXAS Agricultural Technology LDA with Kangome Co. Ltd. 

“NEC X is committed to addressing this urgent issue through our strategic investment in Verdi, whose innovative solutions are set to transform farming practices. We’re confident Verdi will make a lasting impact, as part of Elev X! Boost and the CropScope initiative.”

~ 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. She can be reached at lkiernan-stone@globalaginvesting.com.

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