Agriculture has been one of the biggest sectors in the Australian economy for as long as anyone can remember, and it continues to be so well into the 21st century. However, it is also important to note that farmers nowadays use the latest technology and are also keen to use analytics so that their yields improve significantly over the course of time. In that regard, companies like FluroSat is definitely the sort of company that has had its fair share of contribution towards the continued growth of the Australian agricultural sector.
The company is an argonomic analytics company that provides farmers and agricultural companies with key intelligence with regards to their farming work. Consequently, it helps in raising the yield. In a new development, the company has raised $4.6 million in a fresh round of funding. Some of the key investors in this round of funding were Microsoft’s venture fund M12, Space Capital and Artesian Clean Energy Seed Fund, among others. FluroSat aims to use this fresh capital towards further improving agricultural yield in Australia and then take their product to international markets. Opportunities in international markets could be immense. There exist plenty of economies like India and China, among others, which could prove to be highly lucrative for the company in the long run. However, prior to that, the company needs to further develop and fine-tune his product so that it is ready for the international market.
Dr. Anastasia Volkova, who is the founder of FluroSat, stated, “Our agronomy customers help farmers to understand the past, act in the present and predict the future, but they can’t be everywhere at once. FluroSat’s mission is to scale their knowledge and science in a powerful, simple-to-use computing platform that keeps farms on track, in real-time.” The investors who have come on board are highly experienced as well and could help the company in expanding its footprint considerably in the years to come. That being said, the company’s primary focus should be to grow its footprint in Australia.