OAKLAND, Calif., Nov. 1, 2017 /PRNewswire/ -- Ceres Imaging, an aerial spectral imagery and analytics company that helps farmers solve problems with a unique set of hardware, software and agricultural expertise, today announced that it has secured an additional $2.5 million in Series A funding from Romulus Capital. The company has raised a total of $10.5 million since its founding in 2014, and this new investment follows a previous $5 million Series A round led by Romulus Capital earlier this year. Ceres Imaging will use investment proceeds to bring its innovative technology to more growers in Australia, California and the U.S. Midwest, with a focus on accelerated product development for row and cereal crops.
Ceres Imaging provides today's growers with aerial images – including plant-level water and nutrient content and unprecedented insights into pest and disease pressure – that help them take action, delivering a clear return on investment. Ceres Imaging offers university-validated agronomic insights to farmers through the use of aerial spectral imagery, proprietary sensors and analytics, and artificial intelligence (AI) technology. The company's solutions incorporate computer vision and machine learning to help farmers solve problems with crops, optimizing inputs like water and fertilizer. That means higher yields for farmers and also peace of mind.
The company deploys unique hardware and software, and its approach is vetted by agronomy knowledge and testing, which is why it sets the industry standard for practical aerial imaging. The Ceres Imaging team is led by agriculture and technology professionals, including agronomists, hydrologists and remote sensing experts, and the product is validated by a four-year research collaboration with leading agricultural scientists from across the University of California system.
"Ceres is focused on real-world results for growers, both in terms of yields and plant health," commented Ashwin Madgavkar, CEO and founder of Ceres Imaging. "We're excited about bringing growers a tool that combines leading-edge technology – including AI and computer vision – with proven agronomy know-how and best practices."
The Ceres Imaging line of aerial imaging products helps farmers identify, monitor and quickly solve crop problems. The company provides solutions for water stress, chlorophyll content, canopy vigor, thermal analysis, and plant counting. Ceres applies computer vision to the processing of raw data and incorporates machine learning technology to separate plants from dirt, as well as convolutional neural networks – an advanced AI technology – to assign data at an individual plant level, enabling growers to see differences in plants over time.
"Ceres has done what so few companies have managed to do – build something that many farmers find valuable," said Krishna K. Gupta, founder and managing partner of Romulus Capital. "We're excited to deepen our partnership with Ceres as the company continues to enhance its best-in-class technology and expand its sales efforts over the next year."
"Since I've been here, Olam and Ceres have partnered up to help integrate remote sensing technology and our farming systems so we can make more informed decisions and be a more sustainable grower in California," says Zac Ellis, technical services manager at Olam SVI. "It's a two-pronged approach for us. First, we use the water stress imagery and the algorithm Ceres has developed to detect any deficiencies in irrigation infrastructure throughout the season. We also use the chlorophyll nitrogen product to see how the nitrogen is affecting trees on a more granular level."
About Ceres Imaging
Ceres Imaging is a California-based provider of aerial imagery for farmers and agriculture companies. The images provide unmatched plant-level detail that enables growers to optimize water and nitrogen use, increasing yields and saving time and money. Ceres offers a unique water stress view, validated by the University of California Cooperative Extension, which provides an early warning system of threats to crops before losses occur, highlighting irrigation problems, disease, parasites, and more. For more information, visit CeresImaging.net.
Ivette Almeida for Ceres Imaging
SOURCE Ceres Imaging