The domestic initiative founded by Emre Tunali, Caner Calik and Sinan Oz in 2018 to produce solutions for sustainable food production and assurance, and Agrovisio, which first appeared in 2019, received its first investment from Startup Wise Guys with a valuation of ₺10 million.
The prices of agricultural products, which have an important place in our lives, can fluctuate by 40% within weeks. These fluctuations mean that businesses that use agricultural products such as cotton, corn, and potatoes as raw materials assume the risk of hundreds of billions of liras in their production. Users can see the expectations in agricultural supply before anyone else by following the basic factors affecting supply and price, such as cultivated area, harvest, harvest time, product health, field by field on the digital platform offered by Agrovisio. Thus, they can better position themselves against price fluctuations and make their purchasing decisions confidently.
While the Agrovisio initiative targets agriculture-based industrial enterprises, it also enables these businesses to position themselves correctly in the market with the data they provide. At the same time, state institutions, insurance companies, farmers, and cooperatives can easily use the insight analysis provided by Agrovisio to follow their work, increase efficiency, and make future projections.
Agrovisio initiative currently has more than 200 customers in Turkey and the initiative will use the new investment they have received to reach customers from the European market, especially Italy, England, and Spain.
Agrovisio continues its activities with a team of 6 people who have worked on image processing, machine learning, and artificial intelligence for many years, and have signed many national and international deep technology projects.
Regarding their investment and future plans, Agrovisio founding partners stated:
“First of all, we are very happy that we are a part of this family, not because we received investment, but because we received our investment from Startup Wise Guys. It is very important for us to be in such a big family and to know that we are always supported. We think this investment is a critical step in our growth journey. You have known Agrovisio as a technology initiative that breaks grounds in Turkey’s agricultural remote sensing services. Our goal in 2021 is to continue our growth and become an initiative known in the international arena.
As Agrovisio, with our existing infrastructure, we are able to monitor 40 million hectares of land on satellite, day by day, and serve our users in 10 agricultural products. By the end of 2021, we want to expand the scope of our services by increasing our observation capacity 5 times, and by adding new agricultural products in our target markets to our system. For this reason, we have planned to use a significant part of the investment to adapt our technological infrastructure to target markets and to increase our operational capabilities in the target market. By the end of 2021, we want to transform Agrovisio into a global enterprise with customers from many different countries.”
Startup Wise Guys is the leading early-stage accelerator and investment fund in Eastern Europe, founded in Estonia in 2012, and has invested in more than 220 startups so far.
Source: Egirisim / Translated by Bazaar Times Team