Farming data analytics firm raises £3 million

Posted on 16 Apr 2018 and read 476 times
Farming data analytics firm raises £3 millionLondon-based Hummingbird Technologies has closed a £3 million funding round, taking its total funding to over £4 million (www.hummingbirdtech.com).

Its backers include the European Space Agency, Sir James Dyson, Newable Private Investing and Velcourt (the UK’s largest commercial farming operation).

Founded in 2016 by Will Wells (with tech partners including Google UK), Hummingbird uses artificial intelligence (AI) that harnesses information from drone,s aeroplanes and satellites — combined with weather and soil data and expert plant pathology — to facilitate precision agriculture.

It currently has over 100,000 hectares under management and is expanding its operations into new markets. The company has 25 London-based employees focused on data science, and it has created a further 50 part-time pilot and agronomy jobs in the countryside.

Mr Wells said: “We are delighted to complete this funding milestone with such high-quality backers, which reflects our position as the leading player in AI-based agritech. This is an exciting time, with a major digital transformation in global agriculture.

“Artificial intelligence and digital technologies are dramatically enhancing traditional farming techniques, with significant cost-efficiencies for farmers and the added benefit of helping to cut back on the overuse of chemicals.

“With the rising demand for agricultural production to meet the needs of the world’s increasing population, we see a huge opportunity for further growth.

“This latest round of fund-raising will enable us to continue our expansion across the UK and into key markets such as Russia, Brazil and Ukraine.”

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