tracxn research: precision agriculture landscape, august 2016

Precision Agriculture Report, August 2016

TracxnWorld’s Largest Startup Research Platform

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Contents

Topic Page No.

Scope of Report 05

Entrepreneur Activity 07

Investment Trend 10

Who is Investing 17

Exit Outlook - IPO, Acquisitions 21

Sub Sector Analysis 23

Interesting Companies 32

Useful Links 37

Company List 39

Team 123


Illustrative Sectors We Track

ENTERPRISEINFRASTRUCTURE

CONSUMER

SECURITY

STORAGE

NETWORKING

MOBILITY

IT OPS

CLOUD INFRASTRUCTURE

API MANAGEMENT

BIGDATA INFRASTRUCTURE

FOOD TECH

SECOND HAND GOODS

AGRITECH

FINTECH

PRECISION AG

BIOTECH

FARM MANAGEMENT

MARKET LINKAGES

INFRASTRUCTURE

AGRIBUSINESS

INDOOR AGRICULTURE

PROCESSING TECH

BITCOIN

PAYMENTS

MOBILE

TECHNOLOGY

MOBILE COMMERCE

MOBILE PAYMENTS

MOBILE MARKETING

MOBILE DEV TOOLS

MOBILE HEALTH

MOBILE GAMING

MOBILE LEARNING

MOBILE COMMUNICATION

Internet of Things

Industrial Robotics

ENTERPRISEAPPLICATIONS

HEALTHCARE

SAAS

MOBILE-FIRST ENT. APPS

INTELLIGENT ENT. APPS

OPEN SOURCE

RETAIL TECH

MARKETING TECH

STEALTH MODE

VERTICAL SAAS

LIFE SCIENCES

DIGITAL HEALTH


Sector Overview

Scope of report

This report includes:

This report covers a study on companies leveraging technologies such as wireless sensors, internet of things, predictiveanalytics, machine learning, machine vision, image processing for Normalized Difference Vegetation Index (NDVI) and multispectral analysis, etc. for supporting planning and operations in open field farming, livestock and aquaculture.

This report excludes:

This report excludes companies supporting indoor agriculture, and ERP platforms for farm business management. Furthermore,this report does not focus on companies from East Asia, especially China, Japan, North and South Korea.

Highlights

• Precision Agriculture saw a total of $967M of funding, of which $477M of investment happened in 2015 & 2016 YTD.

• The sector saw a steady rise in the number of companies founded since 2011 to 2014 and stabilized since then.

• Around 50% of the startups founded were from US, Israel and Canada; 38% of the startups founded were in the UnitedStates alone.

The scope of this report includes equity as well as debt funding received by the companies.


Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

6


1923

45

6669 69

0

16

32

48

64

80

2010 2011 2012 2013 2014 2015

Nu

mb

er o

f C

om

pan

ies

7

YoY – Number of companies founded

Semios Farmer's Business Network IntelinAir

QualySense

Blue River Tech

PrecisionHawk

FarmLogs

Swift Navigation

Resson Aerospace

CropX Sentera Agrilyst


Niche Upcoming Sectors


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

9

9


YoY – Number of Rounds and Total Funding

Note: The funding includes debt rounds also.

$45M

$17M$19M

$90M$84M

$31M

$132M

$345M

$130M

55

7

10

19

28

55

70

40

0

16

32

48

64

80

0

80

160

240

320

400

2008 2009 2010 2011 2012 2013 2014 2015 2016 (YTD)

Nu

mb

er of R

ou

nd

sFu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Funding Amount Number of Rounds


YoY – Number of Rounds by Stage


YoY – Funding by Stage


Top investments in last one year


Funnel view of Sector


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

16

16


Most Active Investors in Sector

9

4 4 4 4 4 4

3 3 3

0

2

4

6

8

10

KhoslaVentures

Atomico First RoundCapital

IndexVentures

KPCB NEA Start-Up Chile AndreessenHorowitz

AvrioCapital

BusinessDevelopment

Bank of Canada

Tota

l Nu

mb

er o

f C

om

pan

ies

The Climate Corporation

Farmers Edge Agribots Solum Hortau Resson Aerospace

Solum Swift NavigationFarmer's

Business NetworkSwift Navigation Event 38 FarmLogs Hortau






Where are Top Investors investing


Top Investor by Stage of Entry


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

20

20


Major Acquisitions in last one year

Year Company Acquirer Deal Size OverviewTotal

Funding

2015 agintelmax.comIntelMax Corp

( Belarus, 2013)bayer.com

Developer of software for precision agriculture

2014 aparotors.comAerial Precision Ag

(Tempe, 2013)roboflight.com

Easy to fly multirotor platform to captures HD video and photo images for precision agriculture operations

2015 acrevalue.comAcreValue

(San Francisco, 2015)granular.ag Farmland value and productivity analytics platforms

2014 arvus.com.brArvus Tecnologia

(Florianopolis, 2004)

hexagonagriculture.com

Hardware and software products for precision farming

2014 agpixel.comAgPixel

(Johnston, 2011)roboflight.com

Data processing software that turn aerial imagery into consumable information

2014 solum.agSolum

(San Francisco, 2009)climate.com Hardware and software solutions for precision farming $42.5M

2013 climate.com


(San Francisco, 2006)

monsanto.com $930M Climate data provider for farms $99.5M


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

22

22


August 2016Tracxn BlueBox : AgriTech

1200+ companies in the sector, 439 funded in last 5 years, $1.9B invested in 2015/16

23


Precision Agriculture : Deep Dive

$554M

$379M

0

120

240

360

480

600

Farm Data and Analytics Field Ops

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

# Cos. 301 79

Avg. Age 2011.22 2008.09

Top Business Models by Funding

Field

Operations (Ops)

HardwareFarm Data

& Analytics (F D & A)

$51M

$554M

UAVs

NovaDrone

Software Platforms

Farmer’s Business Network,

Weather Analytics

Field Crops

AutoAgronom, Novariant

Livestock

FeedLogic

Aquaculture

eFishery

Sensors

SupraSensors

Integrated Platforms

The Climate Corp,

PrecisionHawk

$100M

$454M

$379M

$678K

$377M

Market Map


Farm Data and Analytics – Business Model Description


Farm Data and Analytics – Entrepreneur Activity and Investment Trend


Farm Data and Analytics – Most Funded Companies


Field Ops – Business Model Description


Field Ops – Entrepreneur Activity and Investment Trend


Field Ops – Most Funded Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

3131


Interesting Unfunded Companies

Company Overview Business Model

ffrobotics.comFFRobotics

(2014, Tel Mond)

Robotic fruit picker for orchardsField Ops > Field Crops > Harvesting

yuktix.comYuktix

(2013, Bangalore)

Technology sensor products for remote monitoring and control of devices Farm Data and Analytics > Integrated Platforms > Field Crops > On-Field Sensing

farmbot.ioFarmBot

(2015, Vancouver)

Autonomous farm operations systemField Ops > Field Crops > Horizontal

keltronixinc.comKeltronix

(2015, Santa Barbara)

A visual beehive and bee growth monitoring system Farm Data and Analytics > Integrated Platforms > Insects

onewater.inOneWater

(2015, Ahmedabad)

Soil and groundwater sensing and analytics product Farm Data and Analytics > Integrated Platforms > Field Crops > On-Field Sensing

Curated list of companies by the sector analyst are defined as Interesting


Interesting Seed Companies


Interesting Series A Companies


Interesting Late Stage Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

3636


Useful Links

Slide Title Content Platform Link

List of All Companies in readable format Companies Link

Top investments in last one year Investment Trend Link

Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link

Most Funded Companies Sub Sector Understand Link

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Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

3838


Precision Agriculture – Company List

DETAILS CLOSE TO 390 COMPANIES

(180 FUNDED COMPANIES)

COVERS THE FOLLOWING SECTORS

Farm Data & Analytics Field Operations (Ops) Hardware


Farm Data and Analytics (1/64)

Farm Data and Analytics Field Ops Hardware

Company Details Funding Investors

Integrated Platforms -Aquaculture

The Yield [Sydney, 2014]: The Yield has developed hardware that comprises of sensors which can collect andstream data over the network to the cloud which deploys its own developed analytics engine which providesuseful data for precision aquaculture through multiple user interfaces. Offers on a SaaS (software as a service)model. Focusing on oyster farmers.

$4.2M Bosch


4-Deep [Halifax, 2008]: 4Deep inwater imaging is a privately owned, Halifax-based ocean technology firmspecializing in the design, production and sale of submersible microscopes. These devices are used to monitorwater quality in real-time and are based upon the principle of digital in-line holography. Applications includemonitoring and quantifying oil in water, harmful algae monitoring, ship bilge and ballast tanks, oceanographicresearch, aquaculture and algae-biofuel production. The submersible microscope is essential for applicationsthat require real-time, continuous, in-situ monitoring of water. The device is small, portable, robust, easy tomaintain, requires minimal training and is easily deployed in fresh and saltwater to obtain 3D images. Thesystem can count, size, characterize and track the movement of particles and microorganisms as small as a 1micron and as large as several millimeters. Leveraging the intellectual talents and expertise of Atlantic Canada'soil. freshwater and ocean communities, RO is active in hardware and software development and has receivednumerous awards and grants acknowledging its commitment to product leadership and innovation. RO iscurrently focused on using the submersible microscope for monitoring water quality. This includes deploymentin lakes, reservoirs and oceans to monitor for harmful algae species, phytoplankton and detection of oil. Usersare a combination of marine research institutes, government and public and private water authorities.

$500k y GUANGZHOU BOSMA CORP


Marport Deep Sea Technologies [Newfoundland, 1997]: Marport Deep Sea Technologies Inc. engages in thedesign and development of software defined sonar technology and products for various underwater sensing andcommunication applications. The company offers wireless sensors, sounders, sonars, doppler current and subbottom profilers, acoustic monitoring devices, underwater modems, subsea positioning systems, autonomousunderwater vehicles/payloads, and visualization software. It also provides trawl monitoring sensors, panel PCs,variable depth sonars, harbor surveillance sonars, underwater navigation systems, SDS transceivers, pelagictrawlers/purse seiners, hull mounted sonars, and ocean going tuna seiners. The company caters to commercialfisheries, underwater defense, offshore energy, and ocean science markets. It offers products through dealers inAfrica, the Asia-Pacific, Europe, New Zealand, North America, and South America.

Hastings Equity Partners, Admiralty Partners

http://www.theyield.com/

http://www.4-deep.com/

http://www.marport.com/





AquaCloud [San Mateo, 2015]: Aquacloud has developed monitoring device for municipalities and aquaculturefarms. Device when dropped into a body of water gives live parameter readings and analytics. Cloud basedplatform allows remote monitoring of water body. Sensor currently detects temperature, pH, dissolved oxygen,conductivity and company claims to be extending its capabilities.

Lemnos Labs, Bassin Ventures, Fresco Capital


Eruvaka [Vijayawada, 2012]: Eruvaka Technologies manufactures on-farm diagnostic equipment foraquaculture farmers to reduce their risk and increase productivity. Offerings include integrated sensors, mobileconnectivity and decision tools for affordable aquaculture monitoring and automation. Its product, FloatingBuoy measures in real time the water parameters that are crucial for shrimp growth and survival and uploadedonto the cloud. Real-time alerts for quality drops, aerator control for energy efficiency and cloud based analyticsto adjust feed based on water quality data are few of the offerings.

Omnivore


Nilebot [Cairo, 2013]: Nilebot is a water quality monitoring system designed by Conative Labs. It monitorsvarious parameters such as water temperature, salinity, dissolved oxygen in an aqua farm through sensor basedtechnology and sends the data over cloud. The platform does predictive analysis and also sends notifications tofarm owners through mobile SMS for various farming activities and fluctuations along with corrective actions.

Orange, TIEC


Acruxsoft [Montevideo, 2009]: Acruxsoft is a consultant as well as a software developer for precision fishing. Ithas devleoped a fishing simulation software that analyses and provides geo-tagged info to the fishing boatswhich it claims helps reduce the fishing time and increases the fish capture yield.

Prosperitas Capital Partners


Atnic [Yogyakarta, 2015]: Atnic is a developer of IoT system for aquaculture. The system consists of watersensors that detect dissolved oxygen levels, temperature, pH, total dissolved solids (TDS), etc. and stream thedata into a single device which communicates to the cloud. The cloud consists of its proprietary analyticsalgorithms which analyse the data in real time. The real time updates are delivered on farmer's devicesincluding mobile (via SMS) and over the web.


http://www.aquacloud.com/

http://www.eruvaka.com/

http://www.nilebot.com/

http://www.acruxsoft.com.uy/

http://www.atnic.co/





Aquafarm [Singapore, 2015]: Aquafarm provides remote controlled wireless sensor technology tools for thecontinuous monitoring of various parameters of big and medium sized farms for aquatic farming such as salinityand temperature. The technology is focused towards the maintenance of optimal water conditions for aquaticfarming. The farmer can set the upper and lower limit for a parameter that is being monitored and the farmercan access the monitored data at any time on mobile & upon seeing any fluctuation can take actions as perrequirement. Moreover, the captured data is stored in a cloud based storage platform and experts of aquafarmprovide the graphical trends and advise regarding the upkeep of farms.


Water Insider [Kyiv, 2013]: Water Insider is a developer of water based sensor network and a cloud basedanalytics platform. The sensors stream the water related data points like dissolved oxygen levels, particledensity, etc. to the cloud where it is analysed and actionable insights to reduce fish stress are provided to thefarmer through its web interface. The product and service are targeted at small and medium scale fish farmers.


Atnic [Yogyakarta, 2015]: Atnic is a developer of system for water monitoring called Blumbangreksa. Thesystem consists of sensors monitoring certain parameters like dissolved oxygen levels, temperature, humidity,pH, salinity, TDS (total dissolved solid), etc. and stream the same to the cloud through its wired network.. Thecloud consists of an analytics software that analyses the data and pushes it to the user through multipleplatforms including web and mobile (through SMS). The company is targeting the shrimp farming market as ofJune, 2016.

Integrated Platforms -Field Crops - Farm

Mapping

PrecisionHawk [Indianapolis, 2011]: Precision Hawk is a civil unmanned aerial systems and remote sensingcompany. PrecisionHawk's Plug-and-Play platform comes with a fully integrated Sensor Suite. PrecisionHawk’sUAV platform, the Lancaster Hawkeye Mk III, provides users with fast and accurate data acquisition that is thenprocessed and delivered to clients in relevant and usable formats. The team is comprised of professionals withbackgrounds in remote sensing, unmanned aircraft operations, software development, data processing and GISsystems development.

$30M

Intel Capital, Millennium Technology Value Partners, USAA, NTT Docomo

Ventures, Innovate Indiana Fund, Verizon Ventures, YMVSV


http://www.aquafarm.sg/

http://www.waterinsider.co/

http://www.blumbangreksa.com/

http://www.precisionhawk.com/



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Field Ops (1/17)

104



Field Ops (2/17)

105



Field Ops (3/17)

106



Field Ops (4/17)

107



Field Ops (5/17)

108



Field Ops (6/17)

109



Field Ops (7/17)

110



Field Ops (8/17)



Field Ops (9/17)

112



Field Ops (10/17)

113



Field Ops (11/17)

114



Field Ops (12/17)

115



Field Ops (13/17)

116



Field Ops (14/17)

117



Field Ops (15/17)

118



Field Ops (16/17)

119



Field Ops (17/17)

120



Hardware

121



Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

122122


Team

123

Ritesh Agrawal

Senior Analyst, Agriculture Practice

Pradyumna Murhar

Lead Analyst, Agriculture Practice

https://linkedin.com/in/ritesh-agrawal-2797b887

https://twitter.com/ritesh_agr89

https://www.linkedin.com/in/pradyumnamurhar

https://twitter.com/prad_evolution