Hummingbird Technologies offers crop analytics services to farm businesses using technology to increase their yield
BASF Venture Capital and TELUS Ventures have led Series B investment round in British agriculture technology startup Hummingbird Technologies, an advanced crop analytics provider.
Other than BASF and TELUS, Saudi Agricultural and Livestock Investment Company (SALIC) and Downing Ventures have also invested in Hummingbird Technologies.
Hummingbird Technologies was founded in 2016 and is based in London. It has developed a technology platform to evaluate the condition of agricultural fields.
The startup claims that its artificial intelligence (AI), deep learning and imagery analytics solutions use proprietary algorithms driven by aerial images captured from satellites, planes and unmanned aerial vehicles.
The image data is processed to create precise harvest forecasts and to accurately calculate how much fertiliser is needed.
With a high-resolution system, the London-based startup also claims to locate potential pest infestation, plant diseases or planting gaps.
Its tools also deliver real-time actionable recommendations which could improve both performances on farms through precise operations and inputs targeting and also offer evidence-based justification and Return on Investment (ROI) proof for decision-making.
Hummingbird can suggest fertilisers and crop protection products within 24 hours
Hummingbird further claims that within 24 hours, it can provide farmers and their advisors with in-field zone maps to help them specifically target fertiliser application, crop protection products and growth regulators along with selectively managing subsequent plantings.
Primary customers include progressive farm businesses which use the technology to manage their existing fields more efficiently and achieve significant yield increases and cost savings.
Key areas for the use of Hummingbird Technologies’ crop analytics include countries such as Russia, Ukraine, China, the US, Australia, Canada, Brazil and the UK.
Hummingbird Technologies CEO Will Wells said: “We are delighted to have received investment from BASF and TELUS Ventures. The investment will allow us to augment our leading position in core international markets, to pursue expansion opportunities that involve API (Application Program Interface) software integration and to extend our machine learning advantage at both a team and code level.
“We have a clear target to become the leading global remote sensing player in AgTech, and with such strong institutional backers, and technical expertise behind us, our journey towards achieving this goal has gathered serious momentum.”
BASF Venture Capital managing director Markus Solibieda said: “We want to support Hummingbird to develop new markets for its unique technology and establish new business models.
“Our colleagues in BASF’s Agricultural Solutions division are already cooperating with Hummingbird. We are supporting these activities through this investment.”