Viticulture Startup Terraview Raises $815K In Series A Round
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Singapore-based intelligent viticulture Terraview raised $815,000 in its Series A funding round led by Flipkart co-founder Binny Bansal, Flipkart Group CEO Kalyan Krishnamurthy, Udaan co-founder Sujeet Kumar, and Tanglin Venture Partner, according to Livemint report. The round also saw participation from Cure.Fit co-founder Ankit Nagori, and Dineout Chief Operating Officer Abhishek Sharma.
Founded in 2019 by Prateek M. Srivastava and Piyush Harsh, SaaS-based startup Terraview uses advanced image processing, machine learning, AI and augmented reality to provide information on vineyards.The startup claims to deploy drones which collect high-quality images and process it to give vineyards a real-time pulse of their land and cultivation. According to the official website, they provide data on the land use pattern, soil hydration, weather, pest infestations and other information to increase crop productivity and maximize yield.
Terraview’s Plans Ahead
The company plans to use the funds for getting a deeper understanding of solving complex problems of fungal disease, bacterial infection, soil hydration, canopy cover and weather assessment using proprietary technology. Currently, Terraview is live in Spain and will soon be available in Italy and France.
While speaking with the Mint, Srivastava said that the funds will also be utilised for helping its customers from Spain, France and Italy to experience better technology. The startup currently has 11 employees who work across Zurich, Madrid, Moscow, Toronto and Florida.
Increasing Focus On Drone Sector In India
According to an Economic Times report, the Modi government is focusing on upcoming technologies including artificial intelligence, virtual reality, drones and cloud computing. Earlier this year, the Union Ministry of Civil Aviation released a draft note for Drone Policy 2.0 in India.
Media reports state that according to the draft \rules governing the operations of drones will either be introduced as an amendment to the existing civil aviation regulations (CAR) 1.0 or as a separate set of civil aviation requirements. A Moneycontrol report said that the Indian drone market is expected to reach $886 million worth by 2021 even as the global market is expected to reach $21.47 billion.
Earlier this month, media reports revealed that the government of Maharashtra had partnered with California-based medical product delivery company Zipline as it plans to launch a logistics network of autonomous drones. These drones will be used for deliveries of blood products, vaccines and life-saving medications across the state.