Greeneye Technology, a trailblazer in AI-enabled precision spraying technology, has secured a significant milestone with the completion of a $20 million funding round led by Israeli investment company Deep Insight. This round, supported by existing investors and notable new backers, marks a turning point in the company’s journey towards revolutionizing farming practices and reducing herbicide use by an average of 88%.
The investment infusion will propel Greeneye’s expansion in the U.S., enhancing its analytical capabilities and broadening its application to new inputs and crops. With plans to deploy dozens more systems in farmers’ fields this year, particularly targeting the vast 200 million acres of corn, soybean, and cotton grown in the U.S., Greeneye is poised to make a significant impact on modern agriculture.
Nadav Bocher, CEO of Greeneye Technology, emphasized the importance of this funding in advancing the mainstream adoption of precision spraying technology, not just in the U.S. but globally. The company’s mission to tackle critical farming challenges, mitigate environmental issues, and safeguard farmland for future generations is further solidified by this financial backing.
Greeneye’s innovative solution, powered by AI and cutting-edge hardware, aims to combat the overuse of agricultural chemicals that contribute to soil and water pollution, herbicide resistance in weeds, elevated chemical levels in food, and financial strain on farmers. By precisely targeting weeds with chemicals only where necessary, Greeneye’s technology offers a sustainable alternative to conventional broadcast spraying methods.
The company’s approach stands out for its compatibility with existing commercial sprayers of varying brands and sizes, eliminating the need for farmers to invest in new equipment. Moreover, its dual line/tank configuration allows for simultaneous precision and broadcast spraying, boosting productivity and efficacy in the field.
Barak Ben Eliezer, Managing Partner at Deep Insight, highlighted Greeneye’s alignment with their mission to invest in technologies addressing global challenges. The company’s success in bringing a practical and affordable precision spraying solution to market underscores its potential to drive widespread adoption and transform agricultural practices.
Gadi Porat, General Partner at JVP, commended Greeneye’s contribution to healthier, safer food production and reduced costs for farmers. As concerns over chemical residues in food escalate, Greeneye’s technology not only addresses these issues but also advances efforts to combat climate and environmental crises on a global scale.
Founded in 2017 in Tel Aviv, Israel, Greeneye Technology is at the forefront of sustainable crop protection solutions, leveraging AI and deep machine learning to optimize decision-making in the field. With a dedicated team and substantial funding support, Greeneye is well-positioned to lead the way in reshaping agriculture for a more sustainable and efficient future.
