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A big win for Agtech AI? Prospera acquired by Valmont for $300M

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A big win for Agtech AI? Prospera acquired by Valmont for $300M
Israeli startup Prospera develops AI-driven agriculture management technologies and will join the American farming manufacturer to create the largest. AI company in agriculture
Oshry Alkeslasi
/
6 May 2021
•
2 min read
Israeli Agtech startup Prospera announced yesterday that it will be acquired by Valmont - a U.S. manufacturer of farming infrastructure - for a total of $300 million. The Israeli company had only raised $26 million to date. Due to Valmont’s NYSE listing, the acquisition should be finalized by Q2 this year. As part of the deal, Prospera employees will receive stock options in Valmont. ....

Raviv Itzhaki , Shimon Shpiz , Daniel Koppel , Israeli Agtech , Bessemer Venture Partners , டேனியல் கொப்ப்பெல் , பெஸ்ஸெமர் துணிகர கூட்டாளர்கள் ,

Valmont to acquire Prospera Technologies

Aug 31, 2021 to Sep 02, 2021
Valmont Industries has entered into a definitive agreement to acquire Prospera Technologies Inc. The transaction, valued at approximately $300 million, is expected to close in the second quarter of 2021.
Valmont is a global provider of engineered products and services for infrastructure and irrigation equipment. Prospera is a privately held Israeli-based artificial intelligence company, focused on machine learning and computer vision in agriculture.
Building on accomplishments
Since 2019, Valmont and Prospera have integrated AI technologies with center pivot irrigation to develop real-time crop analysis and anomaly detection solutions. The partnership is monitoring five million acres in 2020 – the original estimate was one million acres – and twice as many growers are using the service compared to 2019. Grower adoption is expected to double in 2021. ....

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Valmont to Acquire Prospera Technologies, Global Leader in Agricultural Artificial Intelligence & Machine Learning – Consumer Electronics Net

Valmont to Acquire Prospera Technologies, Global Leader in Agricultural Artificial Intelligence & Machine Learning – Consumer Electronics Net
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Israeli agtech startup Prospera snapped up by US firm Valmont for $300 million

Prospera s technology helps keep tabs on crops (Courtesy)
Valmont Industries, Inc., a US maker of irrigation and infrastructure equipment, said Wednesday it has entered an accord to buy Israel’s Prospera Technologies, a maker of artificial intelligence-based sensors and cameras for monitoring crops, for $300 million.
The acquisition is the culmination of a two-year strategic partnership set up between the companies in 2019. The merging of the firms will create the “largest global, vertically-integrated artificial intelligence (AI) company in agriculture,” the companies said in a statement.
With in-field cameras and climatic sensors, Prospera allows farmers to accurately remote-manage their fields with real-time analysis on what is happening to their crops leaf by leaf and on a multi-field, multi-crop basis. This access allows them to tackle critical issues of underperforming fields caused by pests, disease, irrigation, nutrient deficiencies and sub-optimal agro ....

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Valmont buys Israeli ag-tech AI co Prospera for $300m

Valmont buys Israeli ag-tech AI co Prospera for $300m
The Tel Aviv-based company develops intelligent solutions to help farmers grow crops more efficiently.
US agricultural services and irrigation equipment company Valmont Industries Inc. (NYSE: VMI) today announced it has entered into a definitive agreement to acquire Israeli based ag-tech AI company Prospera Technologies for $300 million. The deal is expected to close in the second quarter of 2021.
Prospera was founded in 2014 by CEO Daniel Koppel, Shimon Shpiz, and Raviv Itzhaky and since 2019 has been teaming with Valmont on digital and autonomous farming. The Tel Aviv-based company develops intelligent solutions to help farmers to grow crops more efficiently. The partnership has expanded Prospera s solutions, monitoring five million acres in 2020 against an original estimate of one million, with twice as many growers using the service as compared to 2019. Grower adoption is expected to double in 2021, with greater ....

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