Greek smart agricultural technology startup Augmenta has received an $8 million capital boost mainly from CNH Industrial and Pymwymic.
CNH Industrial is among the biggest agricultural vehicle companies in the world with a capitalization of over $20 billion, while Pymwymic is among the top impact investors in sustainable development companies in Europe. The funding round has also attracted existing backers such as Greek fund Marathon Venture Capital, and international venture capital Hardware Club.
Augmenta’s innovation relies on a hardware and software system it has developed that is installed atop farming vehicles, scanning fields in real time about their rice, wheat, cotton and corn produce.
Using artificial intelligence it then detects where fertilizers or other substances are needed and ensures the appropriate quantities of chemicals are disposed.