Ag Tech News
IntelinAir Bring Automated Aerial Imagery Analytics to Farmers
SAN JOSE, Calif: IntelinAir, Inc., announced it has closed its series seed funding comprised of $3 million in equity and $500,000 in venture debt. IntelinAir is an aerial imagery analytics company whose AG-MRI™ solution provides farmers with a comprehensive health analysis of their farms by combining high resolution aerial imagery analytics, advanced agronomic sciences, and proprietary algorithms derived from traditional computer vision and deep learning methods.
IntelinAir co-founder and CEO, Al Eisaian said, “Experts estimate demand for food will nearly double by the year 2050 as the world population grows to 9-10 billion people. Simultaneously, available farmland will shrink due to climate change and alternative uses for the land—for example, housing. In addition, the average age of the American farmer is 57 and growing, and fewer younger people are choosing farming as a career. With fewer resources to meet bigger demand, humanity has to use modern technologies and data-driven methods for producing food more efficiently. IntelinAir is excited to be part of the innovation ecosystem, focused on helping farmers to sustainably produce more from every acre. This funding will help us bring these vital new solutions to farmers through our partnerships with their trusted advisors.”
Hyde Park Venture Partners, Western Technology Investments, Harvard Business School Angels of Chicago, Holdsworth & Company, HiveFund, and several angel investors are the participants in this round of funding. Several veteran ag industry executives and large farmers also participated.
Eisaian said “A significant percentage of this funding round came from individuals who are deeply knowledgeable of the global agriculture industry. Having this level of backing from leaders who really understand the solutions needed in today’s environment and the impending era of digital agriculture confirms to us that we’re on the right path to delivering truly remarkable solutions to the agriculture community.”
“We have been active investors in digital agriculture companies that are transforming agriculture as we know it. IntelinAir’s proprietary computer vision technologies, deep learning methods, and cutting-edge agronomy were key drivers in our decision. We were impressed by the depth of the science and technology team at IntelinAir; and knowing IntelinAir was founded and led by Al Eisaian, a seasoned technology entrepreneur with multiple successful exits, gave us additional confidence to invest,” said Hyde Park Venture Partners Managing Director Guy Turner.
“AG-MRI™ is the ultimate cost-effective and comprehensive ground-truthing solution for farmers and their agronomists and consultants, validating the farmer’s knowledge with data from the field and employing powerful algorithms to synthesize the data into useful information to drive decisions—and do it while there’s still time to make adjustments to boost yields and control input costs for the current growing said Eisaian.