Ceres Imaging has completed a $25 million round of Series B funding. The company says this is the single largest raise in the agricultural spectral imaging sector to date.
Ceres Imaging will use the new funding for product development, new staff and expansion in new markets.
Clients and partners of Ceres Imaging include Olam, The Climate Corporation, Agtegra, and Evergreen FS. And the company is working in California, the Midwest and in Australia.
The Ceres Imaging product combines proprietary image sensors, artificial intelligence, machine learning and plant science. The company says it can monitor individual plant water and nutrient content—as well as individual plant stress.
“Our imagery helps farmers cope with a changing world full of challenges such as climate variability, labor shortages, and depressed markets,” Ashwin Madgavkar, founder and CEO of Ceres Imaging said in a news release. "Like the farmers we serve, we know that agriculture is more than a business. Our growers care deeply about their land and about the food they grow. From grain farmers in the Midwest to California vineyards and almond orchards, these farmers are careful with resources, not just for their bottom line, but because they are stewards of the land."
The funding round included Insight Venture Partners and Romulus Capital.