Prospera Raises $15 Million to Transform Farms with Data

Digital farming company Prospera has announced a $15 million Series B funding round. Qualcomm Ventures, the investment arm of Qualcomm Incorporated, has led the round, which was joined by Cisco Investments, ICV, and existing investor Bessemer Venture Partners. It brings the total investment in the company to $22 million.

Prospera transforms farm production with end to end digitalization – from agronomy to operations. Powered by advanced data analytics, computer vision, and artificial intelligence, Prospera’s system provides growers easy-to-use digital tools to achieve better yields, healthier crops, and higher profits. Prospera builds long term partnerships with leading growers worldwide, based on delivering tangible value quickly, and at every stage of the growing cycle. Already working with some of the most recognized growers around the world, Prospera will use the new funds to accelerate its global expansion and broaden its services to different crops in both indoor and outdoor environments.

Agriculture is immersed in data. From the health profile of individual plants to epidemiological trends; from micro weather conditions to regional conditions; from soil nutrient percentages to operations performance – the relevant parameters for optimal growing are endless. Yet, existing systems lack the capability to handle all this valuable farm data effectively, so most of it remains either uncollected or underutilized. The industry continues to rely on approximations, which too often results in substantial variability in output and quality.

Prospera solves this challenge. Its digital farming system collects, digitizes, and analyzes vast amounts of farm data and optimizes all aspects of production, from agronomy to labor management. It allows agro-businesses to turn their farms into fully digital plants, with tighter control, higher productivity, and more predictable output.

“This is an exciting time to create data analytics solutions, with the agriculture industry on the precipice of a giant step forward,” said Daniel Koppel, Prospera Co-Founder and CEO. “While the Agriculture industry has been somewhat slow to adopt information technologies, it is now closing the gap with state-of-the-art data processing tools, artificial intelligence, and machine learning. We’re excited to lead this paradigm shift. We help our customers surf the tide of digitalization, and become connected, agile, and data-driven businesses that can more efficiently meet the ever-increasing demand for their produce under constantly changing market conditions. We are happy to have the resources to reach more growers worldwide, and grateful to receive such a vote of confidence from industry titans like Qualcomm Ventures, Cisco, and Bessemer and experienced agritech investors like ICV.”

Food and agribusiness is a $5 trillion global market. Although there have been considerable productivity improvements over the past 50 years, currently the industry is not equipped to meet future crop demand, which is predicted to increase by at least 100 percent by 2050. To address this, the agriculture industry, which today is one of the least digitized sectors in the US economy, is increasingly embracing digitalization and new technologies. This makes the industry especially ripe for a major data revolution.

“We were impressed with Prospera’s innovative approach to the digitalization of farming by using computer vision, machine learning, and wireless technologies,” said Boaz Peer, Director at Qualcomm Ventures. “We are excited to be an investor and look forward to supporting them as they lead the way towards bringing greater innovation to the agriculture industry.”

“Prospera changes our world in the simplest terms; it transforms the way our food is grown,” said Adam Fisher of Bessemer Venture Partners, an early investor in the company who participated in the latest round. “Digitizing farm production will be essential to meeting the challenges of feeding a rapidly growing population, with ever increasing demands for quality and reliability. We are excited to work with Prospera’s team as they continue to expand their leadership in the space.”

Leave a Reply

Data Management Stories
Texas-and-Oklahoma-Panhandles-Google-Earth
Data ManagementAgriculture Impacts Weather: The Case for Connected Ecosystems
February 15, 2018
It’s fascinating to see how modern technology has helped us increase our agricultural productivity in areas not otherwise suited for Read More
Norris planter
Data ManagementBig Data is a Chicken-or-Egg Scenario on the Farm
February 1, 2018
According to McKinsey, the agricultural sector is the least digitized industry in the U.S., writes Tony Baer on ZDNet.com. Yet, Read More
Business Management2018 Retail Precision Ag Programs: At-A-Glance
February 1, 2018
Deep in the midst off December downtime, we reached out to three retailers well-versed in running a grower-facing precision ag Read More
Data ManagementClimate Corp. Announces CNH Data Sharing Partnership
February 1, 2018
CNH Industrial and The Climate Corporation announced today a new partnership that will extend and develop a portfolio of data Read More
Trending Articles
Industry NewsNFMS 2018: Case IH Talks Autonomous Agriculture, Announces Pilot Program
February 20, 2018
Since the reveal of the autonomous concept vehicle, Case IH has been evolving the technology and further defining automation and Read More
India-Farm-Irrigation
AsiaCloud-based Irrigation Could Double India’s Crop Yield and Halve Water Use
February 12, 2018
A cloud-based, micro-irrigation system tested on a farm in India has cut water use by up to 80%  and doubled Read More
Tools & Smart EquipmentAutonomous Tractors Could Work in Wetter Conditions than Traditional Tractors
February 8, 2018
March 20th is the first day of spring, making spring much closer than even I expected. On the farm I Read More
AmericasPrecision Farming Companies to Watch in 2018 (OPINION)
January 17, 2018
My friends, as many of you told me repeatedly throughout the last 12 months, 2017 was an interesting year in Read More
John-Deere-Cab-GPS
Data ManagementPrecision Ag Hardware and Software: A Little Off-Season Maintenance Goes A Long Way
January 11, 2018
All service technicians have heard this line. Most often when spring makes its anticipated return to our lives. It is Read More
Anez-Consulting-Paul-Anez-and-Michael-Dunn
Service ProvidersAnez Consulting: Focus On Fertility
January 9, 2018
Central Minnesota features variability aplenty when it comes to soil characteristics and topography, from flat, black expanses rich in organic Read More
Latest News
Skycision
Events12 Groundbreaking AgTech Startups Selected to Pitch at …
February 22, 2018
AgLaunch is bringing its Startup Station pitch event back to the Mid-South Farm and Gin Show for a second time Read More
Industry NewsDeere Garners Ag Data Transparency Certification
February 22, 2018
John Deere announces it has received the American Farm Bureau Ag Data Transparent (ADT) certification, which verifies to producers that Read More
Sentera drone
DronesSentera Launches Micro Gimbal Upgrade for DJI Phantom 4…
February 22, 2018
Sentera today announced the availability of a Micro Gimbal upgrade for Sentera Single sensors mounted on the popular DJI Phantom Read More
AmericasNFMS 2018: Precision Farming, Ag Tech Developments from…
February 21, 2018
Last week’s annual National Farm Machinery Show (NFMS) in Louisville, KY, was this author’s first experience attending the mid-winter Midwest Read More
Vineyard
Specialty CropsMaximize the Benefit of New Farm Technology
February 21, 2018
We have access to technology and information as never before. Working with vineyards in Virginia, I see examples of growers Read More
Industry NewsCropMetrics Names New CEO
February 20, 2018
CropMetrics, a leader in smart irrigation services in the U.S., and developer of the Virtual Optimizer software-as-a-service (SaaS) platform, has Read More
Joel-Greiner-Fybr
Specialty CropsHow Wireless Technology Found its Way to a Central Cali…
February 20, 2018
At first glance, the story of Fybr isn’t an unusual one: a technology company looks toward U.S. agriculture as a Read More
Farmers-on-tablet
AmericasAg Tech News: Mavrx Opens Satellite Platform to Entire …
February 20, 2018
The team at San Francisco, CA-based Mavrx has announced an initiative to increase access to advanced decision support tools in Read More
Industry NewsNFMS 2018: Case IH Talks Autonomous Agriculture, Announ…
February 20, 2018
Since the reveal of the autonomous concept vehicle, Case IH has been evolving the technology and further defining automation and Read More
Real-time-VRA-cotton
Sensors/IoTWhy Are Service Providers Slow to Adopt Crop Sensors fo…
February 20, 2018
Recently, we have seen important discussions about key aspects of precision agriculture. One of these articles, about the value in Read More
Harvested-Corn-Field-Clouds
Industry NewsUnderstory Patents Solid State Weather Sensor
February 16, 2018
Understory today announced that it received a patent for its mechanical strain-based weather sensor, a key component in its weather Read More
Retailer Grower
Business ManagementAgriculture and Technology: Industry Progress Lies in C…
February 16, 2018
Water is essential for agriculture. While this may seem obvious, nowhere is it more apparent than the Sonoran Desert of Read More
Agtegra_SDSU
Industry NewsAgtegra Cooperative Pledges $500,000 to SDSU Precision …
February 15, 2018
Agtegra Cooperative, Aberdeen, SD, today in Pierre announced a $500,000 donation to South Dakota State University for the Precision Agriculture Read More
Ag Retailer and Grower WinField United
Business ManagementThe Importance of Teamwork for Successful Precision Ag …
February 15, 2018
Interdependency is defined as the quality or condition of being mutually reliant on each other. I’m not a huge sports Read More
Texas-and-Oklahoma-Panhandles-Google-Earth
Data ManagementAgriculture Impacts Weather: The Case for Connected Eco…
February 15, 2018
It’s fascinating to see how modern technology has helped us increase our agricultural productivity in areas not otherwise suited for Read More
Adapt-N VRT
Decision Support SoftwareDTN Partners with Adapt-N to Provide Weather and Nitrog…
February 14, 2018
DTN has announced a partnership today at the National Farm Machinery Show with Agronomic Technology Corp (ATC), a Yara International Read More
Corn close up
Imagery/SensingSyngenta Acquires Satellite Imagery Provider FarmShots
February 14, 2018
Syngenta has acquired FarmShots, Inc., a North Carolina-based innovator of high-resolution satellite imagery that detects plant health by analyzing absorbed Read More
Pexels-Agriculture_Fields_Tractor_Precision_AG
Tools & Smart EquipmentMachine Learning: The Secret Sauce of Precision Agricul…
February 13, 2018
With the development of agricultural technologies, crop and plant diseases have been advancing as well, causing degradation of both quality Read More