The Co-owner of the EasyPay Group companies has invested $ 150,000 in the startup Agri Eye, which develops innovative solutions for the agricultural sector. Startuppers will send received funds for the scaling of the team, the perfection of the technology and testing of the technology hypotheses that lie at the basis of the product.
Under the deal, the investor will receive a minority stake in the project. The interest is not specified, however, with a glance to the amount of the investments and the stake, which will receive the investor, the assessment of the startup is $ 1 million.
The startup is working on making the remote sensing technology, the system of automated decision making available to each farmer. The project is a complete technology solution, which includes:
– Collection system and data monitor of the sowing areas,
– Navigation system for quality control of agricultural machinery,
– Cloud-based analytical system for the collection, storage and mental processing based on the algorithms of the Machine Learning and Intelligent Prediction.
Agri Eye was founded by the four Ukrainians – Andriy Sevryukov, Ivan Balashov, Roman Kravchenko and Alexander Krivoruchko on February 2016. Startup passed a three-month incubation in 1991. Open Data Incubator entered the top 10 startups in Ukraine in 2016 according to the UVCA and raised a first round of investments.
Agri Eye plans to take a 20% market share of smart solutions for the agricultural sector for three years. The team hopes that the business expertise and experience of investors in the agricultural sector will help to achieve this: “We received a lot of offers, but we understand that we want to see in the face of investors not just a source of funding, and, above all, a business partner. We sought to what is called smart money, and we believe that we, in this respect, are very lucky”.
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