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IAG’s Firemark Ventures buys stake in Melbourne-based Digital Agriculture Service, says report

General insurance giant Insurance Australia Group (IAG), one of the largest general insurance groups in Australia, is investing in Melbourne-based rural technology firm Digital Agriculture Services (DAS), according to a report by the Australian Financial Review.

IAG Firemark Ventures, the venture capital fund for IAG, has bought a stake in DAS to the tune of multi-million dollars. However, the insurance group did not disclose specific terms of the transaction.

Earlier in April, the Firemark Ventures also invested in AI-powered analytics provider Arturo.

Arturo uses artificial intelligence and drone imagery to deliver property (residential as well as commercial) information that IAG believes may enhance the customer experience on getting a quote & home insurance.

Similarly, Digital Agriculture Services applies AI technology and machine learning in order to develop rural data-powered solutions. Founded in 2017 in partnership with CSIRO (Commonwealth Scientific and Industrial Research Organisation), DAS aims to transform the way rural assets are valued and monitored.

Editorial Desk at Agrigate.Global

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