Semios Raises $8 Million In Private Equity Financing
Semios, a leading provider of real-time agricultural information and precision pest management tools, today announced it has closed an $8 million financing with private equity individuals from the Agtech community, with assistance from Haywood Securities.
Founded in 2010, Semios has grown to be the largest worldwide network of sensors and control devices in specialty crops. The Semios internet-of-things (IoT) solution provides real-time insights into risks associated with weather, pests, disease, frost and irrigation on a Software-as-a-Service (SaaS) basis.
Combining remote access to real-time field conditions and acre-by-acre metered delivery of inputs is the cornerstone of precision agriculture. Semios enables improved deployment of pheromones, frost prevention and optimization of irrigation schedules. These types of services help reduce risks, protect valuable crops and ultimately improve the grower's profitability.
Michael Gilbert, Founder and CEO of Semios, said, "We are at a pivotal point in the company's growth with more than 50,000 sensors deployed and over 10,000 acres under management. Adoption of our platform is accelerating and our growers are asking for more features and services. With this new level of investor expertise and confidence, we'll be able to expand the platform and accelerate the growth of our business."
With over 200% annual growth, the company will use the funds to expand sales, services and R&D efforts. The team continues to add new services including novel aerosol pheromone formulas to target more orchard and vineyard pests. With the decline in bees and other beneficial insect species, non-toxic and specifies-specific pheromone products are becoming an increasingly important alternative to insecticides. Other enhancements to the platform include improved big data analytics to predict the risk of frost inversions, diseases and non-optimized irrigation.
Reid Carter, a recently appointed Semios Board Member representing the new investment group said, "Semios continues to demonstrate an exceptional level of innovation and functionality in its precision farming platform and is now at a stage where more resources will help meet the exponential growth in demand for operational deployment."
Semios is a precision farming company dedicated to reducing and mitigating risks for growers of tree fruits, nuts and grapes. We leverage our proprietary internet of things (IoT) wireless network and big data analytics to help manage insect pests, disease, frost and irrigation. We improve sustainability, reduce inputs and increase value of harvests. Delivered as a full service solution, Semios is easy to start and simple to use.
Source: EIN NEWS