Reportedly, since the launch of Agrilyst, the company was mostly focused on assisting indoor farmers and greenhouse machinists run their operations by collecting information about their crop yields and other metrics.
Agrilyst, an agtech startup rebranded as Artemis, has reportedly announced that it has raised $8 million in a Series A funding round. Talis Capital and Astanor Ventures led the round, with participation from Empire State Development Fund of New York state and iSelect Fund. With the latest round, the company has raised a total of $11.75 million in funding.
Reportedly, since the launch of Agrilyst, the company was mostly focused on assisting indoor farmers and greenhouse machinists run their operations by collecting information about the crop yields and other metrics. Over the course of last few years, that mission has quite expanded. Now, it envisions itself as a business Cultivation Management Platform (CMP) which focuses on all aspects of indoor farming, including ensuring compliance with food safety and local cannabis regulations and managing workers.
The expanded platform is allegedly intended to provide a solo outlook of all operations to the businesses and incorporates with current systems such as climate control, Point of Sale systems and ERP tools.
Apparently, the major part of the expanded platform is compliance.
Allison Kopf, Founder and CEO, Agrilyst, reportedly stated that the company analyzed through business processes that risk is compounded because it is not just the risk across several acres and sites. So, in the year 2018, the company progressed to concentrate almost fully on the operations and have achieved a lot of momentum in that space, he further added.
Reportedly, with the novel concentration on compliance, Agrilyst has appointed Dr. Kathleen Merrigan to the board. Merrigan is the first executive director of the Swette Center for Sustainable Food Systems at Arizona State University and has served as the deputy secretary of Agriculture in the Obama administration. She is also a venture partner at Astanor Ventures.