New Investment Opportunity: Taranis
Redefining agronomy with AI-driven insights
- An AI-Driven SAAS platform that is transforming sales demand intelligence for the Agri-business value chain
- Huge and growing markets: $15B crop intelligence; $5B soil carbon verification
- 167% net dollar retention 2021; projecting 105% YOY growth in recognized revenues, 135% YOY ARR growth FY 2022
- 100+ clients include BASF, FMC Corporation, Helena Chemical Company, Nutrien, UPL
- Up to $50M Series D at pre-money valuation of $215M
Dear Josb,
$500B worth of crops are lost to weeds, insects, and disease every year. In a world increasingly concerned about climate change and sustainability, agriculture is responsible for 24% of global greenhouse gas emissions.
OurCrowd is reinvesting in Taranis, a rapidly growing Israeli agtech company harnessing the power of AI to deliver unprecedented leaf-level insights that enable Ag retailers (suppliers of products like pesticides, fertilizers, seeds and consultative agronomy services to growers) to increase their sales to growers, and growers to increase their yields. The details in this email are based on information received from, and verified solely by, the company.
The problem
It is estimated that as much as 40% of the world's agricultural crops are lost to pests each year, with biotic stress caused by plant diseases, insects, and weeds costing countries at least $500B annually. Existing Precision Agriculture solutions are reactive, based on a limited crop intelligence, meaning that many times preventive steps are done too late. In addition to that, traditional preventive methods, such as human scouting are much less effective.
Furthermore, it is estimated that food production is a big contributor to climate change, generating about 35% of total global man-made greenhouse gas emissions. The need to reduce those emissions is also financial, growers have potential additional income in untapped carbon credits, yet conventional methods of verification consume 75% of the credit value.
The solution
Taranis' precision crop intelligence solution combines unrivaled high precision aerial surveillance imagery that serves as sensors to preemptively avert crop yield loss due to insects, crop disease, weeds, nutrient deficiency, and uneven emergence, thus creating a pro-active solution for Ag retailers.
Taranis' platform enables data acquisition from all levels including satellite, aircraft, and drones, covering millions of acres at submillimeter resolution, providing the ability to differentiate between different types of crop problems.
The company's cloud-based technology uses advanced AI and deep learning to analyze the imagery, allowing Ag retailers to alert growers, increase their sales and the crop yields.
Facing the climate crisis, Taranis is planning to soon deploy its advance technology for carbon verification in the soil using satellite and AI models, aiming to generate additional and substantial revenue for growers.
The market
Growers realize the importance of harnessing technology to improve yields. Crop intelligence is a rapidly growing $15B market. Verification of carbon sequestration in soil is a further $5B market.
The company
Taranis enjoys impressive revenue growth and customer loyalty. The company had 167% net dollar retention from its 2021 base. It is projecting 105% YOY growth in recognized revenues, and 135% YOY ARR growth for FY 2022, which closes at the end of March.
The company has about 100 clients including BASF, FMC Corporation, Helena Chemical Company, Nutrien, and UPL.
The round
This up to $50M Series D round is at a pre-money valuation of $215M.
Taranis intends to use the funds raised in this round to accelerate organic growth within its existing customer base, to expand into new crops and geographies, to launch a soil carbon credit verification service, and for a strategic acquisition of a carbon tech company as well as other potential acquisition targets.
Meet the CEO
We're hosting a webinar on Tuesday, March 1st, at 7PM Israel / 12 Noon New York / 9AM San Francisco for investors to meet CEO Bar Veinstein and learn more about Taranis.
Can't make the webinar? Register and we will send you a recording of the call.
The Taranis Solution
Taranis service is delivered through its SmartScout web application as well as through its Taranis Connect mobile application.
SmartScout is built on a strong and proven content network across millions of acres with data from satellites, planes, and drones, providing submillimeter resolution. Over 200 million leaf-level AI-data points have been run through the company's AI engine, guided by over 180 agronomists, allowing the software to identify actionable insights at scale.
Taranis Connect is a companion app to SmartScout, available for both iOS and Android, enabling Ag retailers and growers to access information on their fields anywhere and at any time, and allows the ag retailers and the growers to easily interact on the insights and actions that need to be taken in the fields.
Next steps:
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