Beewise Technologies, the robotic beehive developer, has reportedly secured a Series C funding round of USD 80 million initiated by Insight Partners.
Corner Ventures, Fortissimo Capital, the Atooro Fund, Iool Ventures, Sanad Abu Dhabi, and Meitav Dash Investments Ltd also participated in the round. This gets the total value of the company to USD 120 million.
Beewise has developed a solution to tackle the issue of bee colony disappearance. Over 30% of honeybee colonies vanish every year which is not only impacting the economy of farmers but also posing a serious risk to food supplies around the world.
In addition, the company offers Beehome, a modular robotic system that is based on artificial intelligence and can extensively monitor bees thereby increasing the capacity of pollination and the production of honey.
Beehome smoothly recognizes threats to a honeybee colony like pesticides as well as the presence of pests and immediately creates a defense against them. It has a real-time response to threats and needs no human intervention. Apart from defending and protecting, Beewise helps honeybees to flourish and grow by reversing colony collapse.
Beehomes are protected from fires, Asian Wasps (murder hornets), and flooding as well as thermally regulated. In addition, the system also offers improved feeding techniques when food supply is not available readily. Its solution leverages a distinct system of computer vision inspection which is equipped with predictive analytics and decision-making software based on AI.
Saar Safra, the Chief Executive Officer of Beewise, expressed that the company has thrived over the past year, and it currently has around 110 employees. The U.S. is the company’s only market with an emphasis on states who foster agriculture.
According to Beewise, its products curb bee mortality by 80% and increase the productivity of hives by 50%. It has saved nearly 160 million bees over the past year.
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