Greeneye Technology, an Israel-based AI weed spraying platform, has closed a seed funding round of $7 million.
The tech developer will use the investment to advance the product R&D (Research and Development), besides deepening the analytics capabilities and expanding the spraying applications.
Moreover, Greeneye Technology is seeking to expand its strategic partnerships with sprayer manufacturers as well. The company has a target to commercialize its technology after a series of trials with farmers and MNCs.
“The way farmers spray chemicals in agriculture is about to be massively disrupted to a more efficient and sustainable manner. Our mission is to reduce the usage of chemicals that are being sprayed in agriculture, utilizing artificial intelligence to provide precise and targeted spraying in real-time, save money for farmers while increasing their productivity and profitability. Our trials indicate that our technology reduces herbicide usage by 65.92%, which supports our mission to address these global agricultural challenges,” Greeneye Technology cofounder and CEO Nadav Bocher said.
Participation in this round witnessed 2B Angels, Syngenta Ventures, One Way Venture, Panache Ventures Techstars, and Hyperplane Venture Capital.
The company has also announced the inclusion of two new board members, JVP Partner Michal Drayman, and Syngenta Ventures’ MD Shubhang Shankar.
Founded in 2017, Greeneye Technology is engaged in developing a platform using AI tools to precisely detect and spray weeds in real-time.