Prospera Technologies raised $15 million in Series B funding

Tinuku - Prospera Technologies is raising US$15 million in Series B funding led by Qualcomm Ventures. Startup Agtech headquartered in Tel Aviv, Prospera Technologies, has secured a series B funding to expand the scope of technology utilizing artificial intelligence and computer viewing power to help farmers analyze data from their fields.

Tinuku Prospera Technologies raised $15 million in Series B funding

Prospera Technologies received Series B funding led by Qualcomm Ventures which included Cisco Investments, ICV, and Bessemer Venture Partners to put Prospera's total funding at US$22 million.

Fresh funds will be used to enter the global market, recruit employees for the delivery team, build relationships with customers and widen their services to handle more types of plant seeds.

"Including making important changes to indoor agriculture to outdoor farming has major implications because 40 percent of the land in the United States is agricultural land," said Prospera CEO Daniel Koppel.

Since the A series funding they have successfully added new customers spread across Europe, Mexico, the United States and now they claim to have thousands of customers including Walmart, Tesco, Sainbury's and Aldi.

Prospera's technology has evolved from a focus on the detection of pests and diseases automatically becomes increasingly widespread in every aspect of agricultural production. Koppel said the technology includes agronomy, operation and management of agricultural labor to improve crop yields.

Some well-known companies that target the agtech sector include drone makers DJI and Agribotix. Qualcomm and Cisco have been developing technology to support the development and droning. Koppel does not see these companies as competitors, but rather as potential partners.

"Drone will provide another important stream of data for analysis, enrich the database and potentially help us deliver more value to our clients," Koppel said.