Ceres Imaging Completes $25 Million Series B
Aerial spectral imagery and analytics company Ceres Imaging closed a $25 million Series B funding round with an investment from Insight Venture Partners, with participation from Romulus Capital. This is the first investment for Insight Venture Partners in the agricultural technology sector. The round for Ceres Imaging represents the largest single investment in the agricultural spectral imaging market category to date.
By using proprietary image sensors, computer vision, machine learning, and plant science, the company allows farmers to react to changes in their fields weeks before they can see them with the naked eye. Unlike traditional true-color and normalized difference vegetation index imagery, Ceres’ spectral imaging products are designed to let farmers monitor individual plant water and nutrient content, as well as stress levels. This helps them identify disease hotspots and conserve pesticides and fungicides. It also means greater crop yields from scarce water—”more crop per drop”—and cuts down on wasted fertilizer by highlighting plant-level nutrient status.
Since its founding, Ceres Imaging has raised $35 million in venture capital. The company plans to use the current funding for the recruitment of new technical talent as well as targeting new markets.