Binny Bansal and Kalyan Krishnamythy have invested $815,000 in global image processing startup Terraview in a Series A round of funding, the company said in a statement on September 27.
Udaan co-founder Sujeet Kumar, Ankit Nagori, co-founder, Curefit and Abhishek Sharma, chief operating officer of Dineout also participated in the round.
Terraview deploys drones to collect high quality images of vineyards across the world and processes it using their proprietary algorithm to give these vineyards a real time pulse of their land and produce.
It currently has teams working across Zurich, Madrid, Moscow, Toronto and Florida.
The company plans to use the funds to solve problems of fungal disease, bacterial infection, soil hydration, canopy cover and weather assessment using proprietary technology.
Terraview's platform has been built for Vineyards who loose significant produce because of low tech viticulture. It is a SaaS platform and is currently live in Spain and will soon be available in Italy and France.
The Singapore incorporated startup was founded in 2019 by high school friends Prateek Srivastava and Piyush Harsh. Srivastava, co-founder and chief executive officer of Terraview, has been a serial entrepreneur and in his previous avatar built the executive search firm, Basil Advisors.
Harsh, the co-founder and chief technology officer of Terraview, is an alumnus of IIT-Roorkee and University of Florida and has worked with research labs in Paris and Zurich. He also ran a startup - Cyclops Labs - in Zurich.
"Viticulture globally is at an inflection point. The demand for wine is at a high and it will continue to grow over the next decade. The current global Wine market is a little over $300 billion and is expected to touch $400 billion by 2020. With changing weather pattern and this unprecedented global demand, optimizing for quality to produce better and driving efficiency to produce higher volumes are going to be significantly important for the future and Terraview is solving for this global need," said Srivastava.
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