FruitSpec, a Misgav, Israel-based provider of a solution to solve inaccurate fruit yield estimation from an early stage, raised $4m in funding.
Backers included AgVentures, a South African agtech investment company, and Hubei Forbon Technology Co. Ltd., China.
The company intends to use the funds to expand broaden its service to the customers,
Led by CEO Raviv Kula, FruitSpec provides patented hyperspectral and computer vision algorithms to count the number of fruit and to estimate fruit sizes for accurate early season fruit yield estimation.
In all recent commercial operations and field trials, the portfolio company of The Trendlines Group Ltd. (SGX: 42T) (OTCQX: TRNLY) said it demonstrated accuracy rates above 95% with its technology.