BeeHero raises $42M Series B for precision pollination platform

BeeHero, which has developed a precision pollination platform, announced Thursday that it completed a $42 million Series B funding round. Lead investor Convent Capital was joined by General Mills, Cibus Capital (formerly ADM Capital), Rabobank, MS&AD, Firstime, J-Ventures, Plug&Play, iAngels, Gaingels, UpWest and more. To date, BeeHero has raised $64 million.

This new round of funding will allow BeeHero to invest more in R&D and help generate more data and insights into the sustainable agriculture ecosystem it is building to address global food security.

The company was founded in 2017 by Itai Kanot, Omer Davidi and Yuval Regev, and operates out of Tel Aviv and Silicon Valley, employing 50 people, 30 of which at its R&D center in Israel.

BeeHero uses advanced data analytics, artificial intelligence, and low-cost IoT sensors to bring transparency and efficiency to the complex logistics of commercial crop pollination. BeeHero’s precision pollination as a service aims to provide better crop yields and higher profits for cash crop growers and agribusiness stakeholders.

“The General Mills investment is a great achievement for us. Agriculture is very important to them and they identified the pollination problem a long time ago and that there are ways to address it,” Davidi told Calcalist. “They are a strategic investor who will open doors for us in the future. The recession has meant that customers are trying to become more efficient and our solution helps them do that.”

BeeHero has spent several years building the world’s largest bee and pollination dataset. The company is working hard to understand more about how this data can help further optimize pollination, the crucial biological process on which most crops depend. In the future, the company plans to integrate new platform tools to further assist growers with an even more accurate, real-time view of their crop development, leading to better decision-making and ultimately to better cultivation results.

“We have seen firsthand the challenges our growers face due to insufficient and inadequate pollination,” added Davidi. “To offset this, more and more farmers are adopting new technologies to meet the nutritional needs of our growing population. Our precision pollination-as-a-service platform is a crucial tool that farmers can rely on to improve their crop yields. This latest round of funding will help us continue to support the agriculture industry as it tackles some of its toughest challenges yet, and is another step toward building a sustainable agriculture ecosystem.”

With nearly 100,000 acres of high-value crops pollinated with BeeHero’s service, the company now serves growers, beekeepers, agronomists, and agricultural retailers in the US. The company recently began expanding into Australia, Europe, South Africa and South America. .

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