Precision AI Farming Company Raises $20M to Deploy Herbicide-Spraying Drone Swarms
Canada-based agritech startup Precision AI will be deploying swarms of artificially intelligent drones to reduce the use of herbicides in agriculture. The company recently raised seed funding of $20 million to help the agriculture industry reduce its chemical footprint.
Precision AI says that more than 80 percent of herbicides end up wasted on bare ground, while another 15 percent fall on the crops. The startup wants to help farmers reduce pesticide use by up to 95 percent with the help of drones.
The company uses drone-based computer vision technology for guided weed targeting in row crop farming. The drones spray only the problem area and thus avoid the crops.
This can help save farmers up to $52 per acre per growing season, with a combination of drone technology and precise chemical applications.
GoogleX cofounder Tom Chi's At One Ventures and BDC Capital's Industrial Innovation Venture Fund co-led the seed round. The equity and grant funding round included participation from Fulcrum Global Capital and Golden Opportunities Fund, and Sustainable Development Technology Canada and Protein Industries Canada provided supporting non-dilutive co-investments.
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