TellusLabs, a Boston, MA-based earth monitoring and machine learning company, raised $3.1m in seed funding.
The round was led by IA Ventures with participation from Hyperplane Venture Capital, Founder Collective, and Project 11 Ventures.
The company intends to use the funds to accelerate ongoing efforts to take Kernel into emerging markets and new crop types, grow its multidisciplinary team of applied geographers, engineers, and data scientists to create new intelligence suites in sectors such as water resources, forestry, urban systems and energy and industrial activities.
Led by David Potere, Ph.D., co-founder and CEO, and Mark Friedl, Ph.D., co-founder and Chief Science Officer, TellusLabs provides answers to time-sensitive economic and environmental questions by assembling decades of satellite imagery and other geospatial data into a dynamic map of the Earth. When connected to TellusLabs’ big data and machine learning platform, that map gives accurate, timely, and granular insights.
The first product suite, Kernel, focused on the $3 trillion global agriculture market, leverages machine learning algorithms trained on decades of harvest data, spaceborne imagery, weather, and in-field observations across nearly 175 M acres of cropland to provide actionable forecast of yield delivered daily, and ahead of government reporting, to hundreds of farmers, commodity traders and agriculture businesses.
FinSMEs
17/01/2017