An Australian agri-tech company has been given major funding with the finalisation of an $11 million investment. The Yield Technology Solutions confirmed that venture capital group, Yamaha Motor Ventures and Laboratory Silicon Valley had signed on to the deal.
Yamaha Motor Ventures is the strategic business development and investment arm of global technology organisation, Yamaha Motor Co. It leveraged its global domain expertise in high-value horticulture in identifying The Yield as an investment opportunity.
The Yield is developing its proprietary digital application providing microclimate data and predictive insights to support critical production decisions for large commercial growers in the specialty crops industry. It uses the internet of things (IoT), data science and artificial intelligence (AI) to power its technology to solve challenges at farm level and throughout the food chain.
The Yield founder and managing director, Ros Harvey, said she was delighted with the investment and the support from the well-known global technology organisations.
"This is recognition of our efforts in delivering a world-class solution in weather and yield predictions for our customers," Ms Harvey said. "Technology is critical in delivering security, particularly in light of current disrupted food supply chains. Our Sensing+ microclimate solution helps customers to work largely remotely in managing the needs of their crops and manage labour requirements.”
"It facilitates the uptake of automated robotic operations in farming and remote management of dispersed assets. Additionally, by leveraging customer data sets, our Sensing+ Enterprise Analytics platform quickly combines data to create AI models for things like yield predictions, that drive significant commercial benefit for customers."