Venture Capital: Precision Farming Startup Solinftec Raises $60M

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Solinftec is a provider of AI and SaaS for agribusiness and its digital farm operating system helps monitor over 27 million acres in 11 countries across the world.

Founded in 2007 by a group of automation engineers from Cuba, Solinftec is an agtech-focused startup with headquarters in both São Paulo, Brazil, and West Lafayette, Indiana. The company raised $60 million in a growth investment round led by Lightsmith Group and joined by existing investors Unbox Capital and Circularis Partners and several undisclosed investors. (AFN)

Solinftec

The company’s precision-ag farm operating system helps manage crops including sugarcane, soy, corn, and cotton, as well as perennials like coffee, timber, and citrus.

Its robots, sensors, and AI-enabled software deliver critical field data to farmers on crops, equipment, weather conditions, and more, in real-time. As a result, they can make informed decisions on planting, spraying, harvesting, and tendering.

The platform, which is AI-powered by a system dubbed ALICE.AI, connects to in-field devices and equipment to collect, analyze and display the information.

“Our mission is to give each farm a sustainable future, promoting the accessibility of technologies to producers and transforming agriculture into a more productive practice, while preserving the planet,” says Solinftec CEO Britaldo Hernandez.

Indeed, Solinftec has helped make farms more sustainable and friendly to the environment. Its platform has cut over 680,000 tons of carbon dioxide emissions during the period 2016 to 2021 — which is about equivalent to planting 30 million trees or electrifying 700,000 cars each year.

New robot

The company announced last month a partnership with Illinois-based GROWMARK Inc., one of the largest agricultural cooperatives in North America, for the development of a new robot to monitor crop fields.

 

 The robot, which is solar-powered and can run non-stop, is also connected to ALICE.AI.

According to the company, the robot is more effective than un-manned aerial vehicles, or drones.

Solinftec Chief Operating Officer Daniel Padrão said: “There are lots of things happening below the canopy that you can’t get with a drone. The robot allowed us to do it.”

Before the latest $60 million round, the company had raised about $87 million.

Related Story: Agtech And Farmer-To-Farmer Platform FBN Raises $300M

Image Source: Solinftec

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