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Google plans to invest in agricultural technologies
The total investment will amount to $15 million.
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Google Inc. and two companies of venture capital invested $15 million in U.S. company that helps farmers to maximize crop size based on the data collected through agricultural equipment, and made available to other manufacturers.

Google Ventures, the technology division of venture-capital firms, arranges financing for a startup company Farmers Business Network (FBN).

The DBL investors and Kleiner Perkins Caufield & Byers were also involved in the project, which will allow FBN to expand your business beyond the 17 States and 16 crops that are currently engaged in.

Founded a year ago, FBN plans to help farmers to make better decisions about crops, capturing information about the weather and the soil, and other data collected with the use of sensory agricultural equipment. After that, the company can offer recommendations for inputs such as seeds, fertilizers and chemicals.

Based in Silicon valley, the company currently does not provide guidance to farmers regarding planting season, but is planning this type of activity in the future.

Large agricultural companies such as Monsanto Co. and Deere & Co, has made large investments in products data analysis and software for precision farming, and ways to help farmers more effectively to increase yield.

Investors have also invested in new technological agricultural company. According to the annual report AgFunder.com in 2014 it was concluded 264 investment agreements worth us $2,36 billion.

Investment is needed, as the returns from agriculture are projected to fall to the low of 2007, U.S. farmers reduce inputs such as machinery and fertilizers in order to save.

In 2011, Google Ventures and Khosla Ventures invested $42 million in WeatherBill, which later became the Climate Corporation. This company was acquired by Monsanto in 2013, more than $1 billion.

 

 



Translated by the service "Yandex.Translation"
Источники: Agro2b
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