PremiumBengaluru: Global image processing startup Terraview on Friday said it has raised $815,000 (around ₹5.8 crore) in Series A funding, led by Flipkart co-founder Binny Bansal, Udaan co-founder Sujeet Kumar, Flipkart Group CEO Kalyan Krishnamurthy, and Tanglin Venture Partners.
Cure.Fit co-founder Ankit Nagori, and Dineout chief operating officer Abhishek Sharma also participated in this round, Terraview said in a press statement.
Terraview uses advanced image processing, machine learning (ML), artificial intelligence (AI) and augmented reality to analyse vineyards. It deploys drones to collect images and processes it using their proprietary algorithm. They provide data on land use pattern, soil hydration, weather, pest infestations and other information to increase crop productivity and maximize yield, according to information available on Terraview website.
Terraview is a software as a service (SaaS) platform and is live in Spain and will soon be in Italy and France, it said.
The company plans to use the funds to invest in going deep in solving complex problems of fungal disease, bacterial infection, soil hydration, canopy cover and weather assessment using proprietary technology, according to the statement.
The Singapore-incorporated startup was founded in 2019 by entrepreneur Prateek Srivastava and Piyush Harsh, an IIT-Roorkee alumnus who has worked with research labs in Paris and Zurich. It has 11 employees at present, spread across Zurich, Madrid, Moscow, Toronto and Florida.
Terraview co-founder and CEO Srivastava told Mint that they will use the funds to "build the platform and go deep into helping our customers in Spain, France and Italy experience better technology." They also plan to file for patents for some of the technology they are building, he said.
"The demand for wine is at a high and it will continue to grow over the next decade. With changing weather pattern and this unprecedented global demand, optimizing for quality to produce better and driving efficiency to produce higher volumes are going to be significantly important for the future," he added in the statement.
