Proveye, a Dublin, Ireland-based remote sensing image analysis for agriculture, today announced that it has closed a €1 million seed funding round to advance the company’s growth strategy.
The round was led by Inspire Investments, the private investment arm of Waystone’s management team, and Enterprise Ireland.
The funding will enable the company to grow its customer base, and capitalize on its proven technology to develop further solutions across grassland, and arable crops, and into more specialist areas of UAV image processing.
Jerome O’Connell, CEO, and founder of Proveye said, “This investment comes at a time of rapid growth for the company as we demonstrate the value of a new generation of image-based analytics in agriculture. Our talented team is working with some of the leading names in the agriculture industry to solve challenges previously out of reach to substantially increase certainty and accuracy in management decisions at the field, farm, and even regional scale.”
Proveye provides an intelligent enterprise SaaS platform combining pioneering image processing for multiple remote sensing sources with artificial intelligence (AI) and machine learning.
It is used by agricultural advisors, fertilizer and pesticide suppliers, and food processors to provide fast and accurate information about productivity and sustainability on agricultural land to their farmer customers.
Company: Proveye
Raised: €1.0M
Round: Seed Round
Funding Month: January 2023
Lead Investors: Inspire Investments
Additional Investors:
Company Website: https://www.proveye.io/
Software Category: Remote Sensing Image Analysis
About the Company: Founded by Jerome O’Connell and Professor Nick Holden, Proveye is pioneering the potential of digital imagery for more predictable and profitable decision-making for agriculture and the environment. Its AI-powered platform employs proprietary, market-leading image correction technology to produce a faster, more accurate picture than previously possible. It works with agri-input providers, agricultural services firms, food producers, and the government to help them realize the full potential of multi-platform image data to empower transformative decision-making at a leaf, field, and national scale. Proveye is powered by technologies developed by the world’s leading image-processing scientists in conjunction with leading academic institutions, NASA, and the European Space Agency.
Source: https://www.ucd.ie/innovation/news-and-events/latest-news/proveye-seed-funding-round/