By Lynda Kiernan
Plantix, a German agtech startup founded in 2015, announced it has raised EUR6.6 million (US$7.3 million) through a Series A led by early stage tech investor RTP Global, and including Piton Capital, Atlantic Labs, and Index Ventures.
Disease and pest infestations lead to global harvest losses that reach as high as 30 percent. Plantix was founded and spun-out of the Leibniz University of Hanover with a mission to address issues driving crop failure, and to mitigate food shortages and improve livelihoods through increased yields.
Farmers using the startup’s free app can take photos of diseased or unhealthy crops on their mobile phone, which are then processed by Plantix’ AI-driven imagery software, which then determines the most probable causes, whether it be disease, nutrient deficiency, or pests, and offers actionable advice.
“In developing and emerging countries in particular, our digital solution can drastically reduce crop losses, minimize pesticide use and increase overall yield,” said Simone Strey, co-founder and CEO, Plantix. “We are delighted to have attracted a group of investors who are as convinced of our product and vision as we are.”
The app also acts as a global community hub for scientists, plant experts, and farmers, where they can exchange information and ideas in real-time, and access cutting-edge preventative measures, weather and disease alerts, and reminders for pesticide application scheduling.
“With 15 million images on file, Plantix already has the world’s largest plant database. More than a million farmers are already improving their yields with the app, and 50 thousand images are being uploaded every day, so it’s fair to say we see huge potential in Plantix,” said Galina Chifina, partner, RPT Global.
Plantix plans to use the capital secured through this round to improve its AI tech solution, and to expand geographically beyond India, where more than 1 million farmers are already using the platform, into Indonesia and Vietnam.
“Food production is one of mankind’s most pressing issues and we are committed to improving farming techniques,” said Strey. “We have built the world’s largest database of plant damage to tackle this problem and will be using this fresh capital injection to grow it further.”
“This new round of funding is a testament to the dedication of Simone and her team as well as the strength of the Plantix platform,” added Chifina. “The app can and will make a major contribution towards building a more sustainable and intelligent global agriculture system by using digital solutions to solve the problems associated with an incredibly fractured ecosystem.”
– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.