Solinftec: Agronomy Solutions yesterday announced that it has secured $60 million in a growth investment round. Tecsoil Inc., which does business as Solinftec, said it it will use the funding to expand its digital farm operations platform in the Americas.
Solinftec said its digital farm operating system is used to manage more than 27 million acres in Brazil, the U.S., and across Latin America. Growers, cooperatives, and agricultural retailers use the technology for field crops such as sugarcane, soy, corn, and cotton, as well as perennial crops such as citrus, coffee, and timber.
“Disruptive technology—in other words, artificial intelligence, data, and automation—can help the agricultural sector overcome its biggest challenge: to produce more food in every square meter of land, with less impact,” stated Britaldo Hernandez, CEO of Solinftec. “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.”
Solinftec said it serves 85% of Brazilian sugarcane growers; the top five grains producers in Brazil; and GROWMARK, one of North America’s largest agricultural cooperatives. The company is based in Araçatuba, Brazil, and West Lafayette, Ind., and it has more than 700 employees worldwide.
Solinftec uses AI, robots to improve farming workflows
Since 2007, Solinftec said it has been developing systems to help growers solve the practical challenges of managing their complex operations. The company said it deploys sensors, computers, and displays in farm equipment to provide customers with a rich set of real-time, in-field data on crops, equipment, inputs, and weather conditions.
The ALICE AI platform powers Solinftec's management software, which customers can use to optimally plan and schedule their farming operations. The company added that the software is designed to help them make real-time decisions and adjustments to ensure the best, real-world results.
Solinftec described ALICE AI an “integrated, end-to-end farm operations management platform covering all key operations and equipment on farms, including planting, spraying, harvesting, and tendering.”
Solinftec recently launched a robot to autonomously scan and monitor fields. The company said it will provide farmers and agronomists with a new level of data to further increase yields, avoid wasted inputs, and lower environmental impacts.
Investors look to agricultural resilience
Lightsmith Group led the growth investment round. Lightsmith is joining existing investors in the company, Unbox Capital, which also participated in the round, and Circularis Partners (TPG ART). Additional undisclosed investors are also participating in the round.
Lightsmith said the investment is part of its focus on investing in growth-stage “climate resilience solutions companies” – technology companies in agriculture and food, energy, water, finance, and supply chains that can help to assess and manage the increased risks and impacts from climate change.
“As climate change and other disruptions continue to put pressure on agricultural productivity and food costs, we need to scale solutions that can help farmers increase productivity per acre while reducing input usage and increasing their responsiveness to changing climate and weather conditions,” said Sanjay Wagle, managing director at Lightsmith Group.
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