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BELGRADE (Serbia), December 19 (SeeNews) - Serbian agricultural sensing and imagery analysis services provider Agremo has closed a $600,000 (526,300 euro) investment round led by Belgrade-based South Central Ventures and followed by US fund Startlabs, South Central Ventures said.
The funding will enable Agremo to further expand their team and their customer base in different geographies throughout the world, South Central Ventures said in a statement on Tuesday.
"We have successfully grown the business to over 100 countries and with the help and experience of South Central Ventures we will be able to achieve our expansion plans and grow Agremo to become the key player in the field," Agremo co-founder and CEO, Milan Dobrota, said.
Agremo is a software platform for agribusinesses, crop growers and anyone interested in crop and land status and health. The company performs analytics from aerial imagery, leveraging Artificial Intelligence (AI), computer vision and machine learning, to provide so-called “brains” for better crop management. The AI technology of Agremo extracts accurate data from the images with proven results for over 100 plant and crop types across all growing stages.
"Agremo’s founders and the whole team have been able to articulate the value they bring to farmers very clearly, which has continually been validated by growth in demand for their solutions and various cooperation models with some of the worlds biggest brands in agriculture. We feel extremely excited to be able to work with Milan and his team on growing the business internationally," said Jan Kobler, managing partner of South Central Ventures.
The Serbian company was founded in 2015 by an experienced team with extensive knowledge in agriculture, data science, drones and developing technology solutions at scale. Agremo has since become a recognised name in precision agriculture, analysing over 100,000 hectares of arable land for their users in more than 100 countries around the world, with the vast majority of them coming from the USA, according to the statement.
($ = 0.877274 euro)