Ceres Imaging said Wednesday that it raised $5 million in a Series A financing round, led by Krishna Gupta’s Romulus Capital. The company provides farmers with aerial spectral imagery and data to check the health of crops, by placing sensors on airplanes that then fly over growing areas.
Bob Payne, who grows crops including almonds and barley in northern California, is the type of farmer investors are hoping to reach. Payne uses a computer application called Agworld to help manage his operations. His Deere & Co. tractors are equipped with GPS, and a few years ago he bought a fixed-wing drone. Last year, his drone helped him spot a virus forming in his fields that he estimates would have cost him $140,000 in losses.
“It’s been nice to have all my fields with me on an app,” Payne said.
This article was provided by Bloomberg News.