Tracxn Research: Precision Agriculture Landscape, August 2016

Precision Agriculture Report, August 2016
Tracxn
World’s Largest Startup Research Platform
2

Contents
Topic Page No.
Scope of Report 05
Entrepreneur Activity 07
Investment Trend 10
Who is Investing 17
Exit Outlook - IPO, Acquisitions 21
Sub Sector Analysis 23
Interesting Companies 32
Useful Links 37
Company List 39
Team 123

Illustrative Sectors We Track
ENTERPRISE
INFRASTRUCTURE
CONSUMER
SECURITY
STORAGE
NETWORKING
MOBILITY
IT OPS
CLOUD INFRASTRUCTURE
API MANAGEMENT
BIGDATA INFRASTRUCTURE
FOOD TECH
SECOND HAND GOODS
AGRITECH
FINTECH
PRECISION AG
BIOTECH
FARM MANAGEMENT
MARKET LINKAGES
INFRASTRUCTURE
AGRIBUSINESS
INDOOR AGRICULTURE
PROCESSING TECH
BITCOIN
PAYMENTS
MOBILE
TECHNOLOGY
MOBILE COMMERCE
MOBILE PAYMENTS
MOBILE MARKETING
MOBILE DEV TOOLS
MOBILE HEALTH
MOBILE GAMING
MOBILE LEARNING
MOBILE COMMUNICATION
Internet of Things
Industrial Robotics
ENTERPRISE
APPLICATIONS
HEALTHCARE
SAAS
MOBILE-FIRST ENT. APPS
INTELLIGENT ENT. APPS
OPEN SOURCE
RETAIL TECH
MARKETING TECH
STEALTH MODE
VERTICAL SAAS
LIFE SCIENCES
DIGITAL HEALTH

Sector Overview
Scope of report
This report includes:
This report covers a study on companies leveraging technologies such as wireless sensors, internet of things, predictive
analytics, machine learning, machine vision, image processing for Normalized Difference Vegetation Index (NDVI) and multi
spectral analysis, etc. for supporting planning and operations in open field farming, livestock and aquaculture.
This report excludes:
This report excludes companies supporting indoor agriculture, and ERP platforms for farm business management. Furthermore,
this report does not focus on companies from East Asia, especially China, Japan, North and South Korea.
Highlights
• Precision Agriculture saw a total of $967M of funding, of which $477M of investment happened in 2015 & 2016 YTD.
• The sector saw a steady rise in the number of companies founded since 2011 to 2014 and stabilized since then.
• Around 50% of the startups founded were from US, Israel and Canada; 38% of the startups founded were in the United
States alone.
The scope of this report includes equity as well as debt funding received by the companies.

Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
6

19
23
45
66
69 69
0
16
32
48
64
80
2010 2011 2012 2013 2014 2015
NumberofCompanies
7
YoY – Number of companies founded
Semios Farmer's Business Network IntelinAir
QualySense
Blue River Tech
PrecisionHawk
FarmLogs
Swift Navigation
Resson Aerospace
CropX Sentera Agrilyst

Niche Upcoming Sectors

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
9
9

YoY – Number of Rounds and Total Funding
Note: The funding includes debt rounds also.
$45M
$17M
$19M
$90M
$84M
$31M
$132M
$345M
$130M
5
5
7
10
19
28
55
70
40
0
16
32
48
64
80
0
80
160
240
320
400
2008 2009 2010 2011 2012 2013 2014 2015 2016 (YTD)
NumberofRounds
FundingAmount(inMillions)
Funding Amount Number of Rounds

YoY – Number of Rounds by Stage

YoY – Funding by Stage

Top investments in last one year

Funnel view of Sector

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
6
16

Most Active Investors in Sector
9
4 4 4 4 4 4
3 3 3
0
2
4
6
8
10
Khosla
Ventures
Atomico First Round
Capital
Index
Ventures
KPCB NEA Start-Up Chile Andreessen
Horowitz
Avrio
Capital
Business
Development
Bank of Canada
TotalNumberofCompanies
The Climate
Corporation
Farmers Edge Agribots Solum Hortau Resson Aerospace
Solum Swift Navigation
Farmer's
Business Network
Swift Navigation Event 38 FarmLogs Hortau
The Climate
Corporation
The Climate
Corporation
The Climate
Corporation
The Climate
Corporation

Where are Top Investors investing

Top Investor by Stage of Entry

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
0
20

Major Acquisitions in last one year
Year Company Acquirer Deal Size Overview
Total
Funding
2015 agintelmax.com
IntelMax Corp
( Belarus, 2013)
bayer.com
Developer of software for precision agriculture
2014 aparotors.com
Aerial Precision Ag
(Tempe, 2013)
roboflight.com
Easy to fly multirotor platform to captures HD video and photo images
for precision agriculture operations
2015 acrevalue.com
AcreValue
(San Francisco, 2015)
granular.ag Farmland value and productivity analytics platforms
2014 arvus.com.br
Arvus Tecnologia
(Florianopolis, 2004)
hexagonagriculture.
com
Hardware and software products for precision farming
2014 agpixel.com
AgPixel
(Johnston, 2011)
roboflight.com
Data processing software that turn aerial imagery into consumable
information
2014 solum.ag
Solum
climate.com Hardware and software solutions for precision farming $42.5M
2013 climate.com
The Climate
Corporation
monsanto.com $930M Climate data provider for farms $99.5M

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
2
22

August 2016Tracxn BlueBox : AgriTech
1200+ companies in the sector, 439 funded in last 5 years, $1.9B invested in 2015/16
23

Precision Agriculture : Deep Dive
$554M
$379M
0
120
240
360
480
600
Farm Data and Analytics Field Ops
TotalFundingAmount(inMillions)
# Cos. 301 79
Avg. Age 2011.22 2008.09
Top Business Models by Funding
Field
Operations (Ops)
HardwareFarm Data
& Analytics (F D & A)
$51M
$554M
UAVs
NovaDrone
Software Platforms
Farmer’s Business Network,
Weather Analytics
Field Crops
AutoAgronom, Novariant
Livestock
FeedLogic
Aquaculture
eFishery
Sensors
SupraSensors
Integrated Platforms
The Climate Corp,
PrecisionHawk
$100M
$454M
$379M
$678K
$377M
Market Map

Farm Data and Analytics – Business Model
Description

Farm Data and Analytics – Entrepreneur Activity
and Investment Trend

Farm Data and Analytics – Most Funded
Companies

Field Ops – Business Model Description

Field Ops – Entrepreneur Activity and Investment
Trend

Field Ops – Most Funded Companies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
3131

Interesting Unfunded Companies
Company Overview Business Model
ffrobotics.com
FFRobotics
(2014, Tel Mond)
Robotic fruit picker for orchards
Field Ops > Field Crops > Harvesting
yuktix.com
Yuktix
(2013, Bangalore)
Technology sensor products for remote monitoring and control of devices Farm Data and Analytics > Integrated
Platforms > Field Crops > On-Field Sensing
farmbot.io
FarmBot
(2015, Vancouver)
Autonomous farm operations system
Field Ops > Field Crops > Horizontal
keltronixinc.com
Keltronix
(2015, Santa Barbara)
A visual beehive and bee growth monitoring system Farm Data and Analytics > Integrated
Platforms > Insects
onewater.in
OneWater
(2015, Ahmedabad)
Soil and groundwater sensing and analytics product Farm Data and Analytics > Integrated
Platforms > Field Crops > On-Field Sensing
Curated list of companies by the sector analyst are defined as Interesting

Interesting Seed Companies

Interesting Series A Companies

Interesting Late Stage Companies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
3636

Useful Links
Slide Title Content Platform Link
List of All Companies in readable format Companies Link
Top investments in last one year Investment Trend Link
Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link
Most Funded Companies Sub Sector Understand Link

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
3838

Precision Agriculture – Company List
DETAILS CLOSE TO 390 COMPANIES
(180 FUNDED COMPANIES)
COVERS THE FOLLOWING SECTORS
Farm Data & Analytics Field Operations (Ops) Hardware

Farm Data and Analytics (1/64)
Farm Data and Analytics Field Ops Hardware
Company Details Funding Investors
Integrated Platforms -
Aquaculture
The Yield [Sydney, 2014]: The Yield has developed hardware that comprises of sensors which can collect and
stream data over the network to the cloud which deploys its own developed analytics engine which provides
useful data for precision aquaculture through multiple user interfaces. Offers on a SaaS (software as a service)
model. Focusing on oyster farmers.
$4.2M Bosch
Aquaculture
4-Deep [Halifax, 2008]: 4Deep inwater imaging is a privately owned, Halifax-based ocean technology firm
specializing in the design, production and sale of submersible microscopes. These devices are used to monitor
water quality in real-time and are based upon the principle of digital in-line holography. Applications include
monitoring and quantifying oil in water, harmful algae monitoring, ship bilge and ballast tanks, oceanographic
research, aquaculture and algae-biofuel production. The submersible microscope is essential for applications
that require real-time, continuous, in-situ monitoring of water. The device is small, portable, robust, easy to
maintain, requires minimal training and is easily deployed in fresh and saltwater to obtain 3D images. The
system can count, size, characterize and track the movement of particles and microorganisms as small as a 1
micron and as large as several millimeters. Leveraging the intellectual talents and expertise of Atlantic Canada's
oil. freshwater and ocean communities, RO is active in hardware and software development and has received
numerous awards and grants acknowledging its commitment to product leadership and innovation. RO is
currently focused on using the submersible microscope for monitoring water quality. This includes deployment
in lakes, reservoirs and oceans to monitor for harmful algae species, phytoplankton and detection of oil. Users
are a combination of marine research institutes, government and public and private water authorities.
$500k y GUANGZHOU BOSMA CORP
Aquaculture
Marport Deep Sea Technologies [Newfoundland, 1997]: Marport Deep Sea Technologies Inc. engages in the
design and development of software defined sonar technology and products for various underwater sensing and
communication applications. The company offers wireless sensors, sounders, sonars, doppler current and sub
bottom profilers, acoustic monitoring devices, underwater modems, subsea positioning systems, autonomous
underwater vehicles/payloads, and visualization software. It also provides trawl monitoring sensors, panel PCs,
variable depth sonars, harbor surveillance sonars, underwater navigation systems, SDS transceivers, pelagic
trawlers/purse seiners, hull mounted sonars, and ocean going tuna seiners. The company caters to commercial
fisheries, underwater defense, offshore energy, and ocean science markets. It offers products through dealers in
Africa, the Asia-Pacific, Europe, New Zealand, North America, and South America.
Hastings Equity Partners, Admiralty
Partners

Aquaculture
AquaCloud [San Mateo, 2015]: Aquacloud has developed monitoring device for municipalities and aquaculture
farms. Device when dropped into a body of water gives live parameter readings and analytics. Cloud based
platform allows remote monitoring of water body. Sensor currently detects temperature, pH, dissolved oxygen,
conductivity and company claims to be extending its capabilities.
Lemnos Labs, Bassin Ventures, Fresco
Capital
Aquaculture
Eruvaka [Vijayawada, 2012]: Eruvaka Technologies manufactures on-farm diagnostic equipment for
aquaculture farmers to reduce their risk and increase productivity. Offerings include integrated sensors, mobile
connectivity and decision tools for affordable aquaculture monitoring and automation. Its product, Floating
Buoy measures in real time the water parameters that are crucial for shrimp growth and survival and uploaded
onto the cloud. Real-time alerts for quality drops, aerator control for energy efficiency and cloud based analytics
to adjust feed based on water quality data are few of the offerings.
Omnivore
Aquaculture
Nilebot [Cairo, 2013]: Nilebot is a water quality monitoring system designed by Conative Labs. It monitors
various parameters such as water temperature, salinity, dissolved oxygen in an aqua farm through sensor based
technology and sends the data over cloud. The platform does predictive analysis and also sends notifications to
farm owners through mobile SMS for various farming activities and fluctuations along with corrective actions.
Orange, TIEC
Aquaculture
Acruxsoft [Montevideo, 2009]: Acruxsoft is a consultant as well as a software developer for precision fishing. It
has devleoped a fishing simulation software that analyses and provides geo-tagged info to the fishing boats
which it claims helps reduce the fishing time and increases the fish capture yield.
Prosperitas Capital Partners
Aquaculture
Atnic [Yogyakarta, 2015]: Atnic is a developer of IoT system for aquaculture. The system consists of water
sensors that detect dissolved oxygen levels, temperature, pH, total dissolved solids (TDS), etc. and stream the
data into a single device which communicates to the cloud. The cloud consists of its proprietary analytics
algorithms which analyse the data in real time. The real time updates are delivered on farmer's devices
including mobile (via SMS) and over the web.

Aquaculture
Aquafarm [Singapore, 2015]: Aquafarm provides remote controlled wireless sensor technology tools for the
continuous monitoring of various parameters of big and medium sized farms for aquatic farming such as salinity
and temperature. The technology is focused towards the maintenance of optimal water conditions for aquatic
farming. The farmer can set the upper and lower limit for a parameter that is being monitored and the farmer
can access the monitored data at any time on mobile & upon seeing any fluctuation can take actions as per
requirement. Moreover, the captured data is stored in a cloud based storage platform and experts of aquafarm
provide the graphical trends and advise regarding the upkeep of farms.
Aquaculture
Water Insider [Kyiv, 2013]: Water Insider is a developer of water based sensor network and a cloud based
analytics platform. The sensors stream the water related data points like dissolved oxygen levels, particle
density, etc. to the cloud where it is analysed and actionable insights to reduce fish stress are provided to the
farmer through its web interface. The product and service are targeted at small and medium scale fish farmers.
Aquaculture
Atnic [Yogyakarta, 2015]: Atnic is a developer of system for water monitoring called Blumbangreksa. The
system consists of sensors monitoring certain parameters like dissolved oxygen levels, temperature, humidity,
pH, salinity, TDS (total dissolved solid), etc. and stream the same to the cloud through its wired network.. The
cloud consists of an analytics software that analyses the data and pushes it to the user through multiple
platforms including web and mobile (through SMS). The company is targeting the shrimp farming market as of
June, 2016.
Field Crops - Farm
Mapping
PrecisionHawk [Indianapolis, 2011]: Precision Hawk is a civil unmanned aerial systems and remote sensing
company. PrecisionHawk's Plug-and-Play platform comes with a fully integrated Sensor Suite. PrecisionHawk’s
UAV platform, the Lancaster Hawkeye Mk III, provides users with fast and accurate data acquisition that is then
processed and delivered to clients in relevant and usable formats. The team is comprised of professionals with
backgrounds in remote sensing, unmanned aircraft operations, software development, data processing and GIS
systems development.
$30M
Intel Capital, Millennium Technology
Value Partners, USAA, NTT Docomo
Ventures, Innovate Indiana Fund,
Verizon Ventures, YMVSV

62

63

64

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

100

101

102

103

Field Ops (1/17)
104

Field Ops (2/17)
105

Field Ops (3/17)
106

Field Ops (4/17)
107

Field Ops (5/17)
108

Field Ops (6/17)
109

Field Ops (7/17)
110

Field Ops (8/17)

Field Ops (9/17)
112

Field Ops (10/17)
113

Field Ops (11/17)
114

Field Ops (12/17)
115

Field Ops (13/17)
116

Field Ops (14/17)
117

Field Ops (15/17)
118

Field Ops (16/17)
119

Field Ops (17/17)
120

Hardware
121

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
122122

Team
123
Ritesh Agrawal
Senior Analyst, Agriculture Practice
Pradyumna Murhar
Lead Analyst, Agriculture Practice

Tracxn Research: Precision Agriculture Landscape, August 2016

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Tracxn Research: Precision Agriculture Landscape, August 2016