TELUS Ventures Invests in Crop Analytics Startup Hummingbird Technologies
British startup Hummingbird Technologies, a global leader in advanced crop analytics, has just received a series B investment round from Canada’s TELUS Ventures and BASF Venture Capital to fund advancements in AI, remote sensing, machine learning, and data analytics for in-field precision farming.
Hummingbird uses its proprietary algorithms driven by aerial images captured from satellites, planes, and unmanned aerial vehicles to evaluate the condition of agricultural fields. It processes image data to create precise harvest forecasts or accurately calculate how much fertilizer is needed.
The startup’s main customers are progressive farm businesses that use this technology to manage their existing fields more efficiently and thus achieve significant yield increases and cost savings.
“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 software integration and to extend our machine learning advantage at both a team and code level,” said Will Wells, CEO, Hummingbird Technologies.
“We believe innovative companies like Hummingbird – that provide farmers with data-driven, user friendly platforms to drive decisions – have the potential for wide-scale adoption as farmers increasingly look for tools to improve their bottom lines and reduce their environmental impact,” said Rich Osborn, Managing Partner, TELUS Ventures. “Through our investment, we have the potential to change cultivation and help mature technology platforms to connect all aspects of the farm and food supply chain.”
There are approximately 2.2 billion hectares of agricultural land available worldwide, with the United States, Canada, and Australia among the key areas for the use of advanced crop analytics.