Valmont to acquire the Isreali crop monitoring startup Prospera Technologies

May 09, 2021 · 1 min read
Valmont to acquire the Isreali crop monitoring startup Prospera Technologies
Share this

There is great potential for the future of agriculture being embedded with IoT devices. Seeing how billionaires like Jeff Bezos and Bill Gates are buying farm land, there is lot of movement of capital within agro-tech.

Propera Technologies makes irrigation equipment with smart sensors, and according to the Times of Isreal, a US-based firm will acquire them for a whopping $300 million.

From the original article:

Valmont Industries, Inc., a US maker of irrigation and infrastructure equipment, said Wednesday it has entered an accord to buy Israel’s Prospera Technologies, a maker of artificial intelligence-based sensors and cameras for monitoring crops, for $300 million.

The acquisition is the culmination of a two-year strategic partnership set up between the companies in 2019. The merging of the firms will create the “largest global, vertically-integrated artificial intelligence (AI) company in agriculture,” the companies said in a statement.

With in-field cameras and climatic sensors, Prospera allows farmers to accurately remote-manage their fields with real-time analysis on what is happening to their crops — leaf by leaf and on a multi-field, multi-crop basis. This access allows them to tackle critical issues of underperforming fields caused by pests, disease, irrigation, nutrient deficiencies and sub-optimal agro-technical activities.

Get new posts by email:

Ads