Agrovisio, a sustainable agriculture startup based in Turkey, finalized its second round of investment at a valuation of $5 million. Promising big data startup received its first investment from Europe’s one of the largest B2B startup accelerator Startup Wise Guys last January.
Turkish agriculture startup almost quadrupled its valuation with funds received from Startup Wise Guys, Aristo ApS, Cenciarini & Co Merchant and Investment Banking, CUYAP (a regional investment platform based in southeast Turkey), Keiretsu Forum Turkey, Galata Business Angels, and some other local investors.
Agrovisio surveys across a total of 40 million hectares wide agricultural fields throughout the year with the help of satellite imaging and surveillance drones. Various data points were gathered from the fields used for analysis and insights created for each and every field in a region Agrovisio serves, to create valuable information regarding certain agricultural products’ production and reduce sustainability risks.
These ‘big data’ products offered by Agrovisio help big farmers, food suppliers, pharmaceutical companies, insurance agencies, and even government entities forecast any shortcomings that might occur in the agriculture industry and food supply chain.
Agrovisio increased its customer portfolio tenfold
Sustainable agriculture startup increased its customer portfolio tenfold in less than a year. At the beginning of this year, the company has only around 200 Turkish customers. That figure almost increased tenfold to 1,500-2,000 customers, thanks to Agrovisio’s recent launch in Estonia, Italy, and Spain. Big data startup will use funds received in its second investment round to speed up the global expansion.