PlanetWatchers secures £10m to increase commercial footprint with crop insurers

World-leading technology company, PlanetWatcher, has raised £10m in funds to continue to support crop insurers and the agricultural industry with Synthetic Aperture Radar (SAR) data.

Related topics:  insuring the planet,  Agriculture
Tabitha Lambie | Editorial assistant, Barcadia Media
27th September 2022
Crop Insurance
"The team’s capabilities in analysing synthetic aperture radar (SAR) data and giving customers actionable insights are second to none, and we are very happy to back them in fulfilling their full potential."
- Andre Ronsoehr, principal at Seraphim Space

PlanetWatchers is a revolutionary crop monitoring company that provides detailed in-season crop insights to reduce overheads and increase customer satisfaction. Currently, the company works with numerous crop insurers to provide detailed analyses for claims without ever visiting the field.

This is made possible through its powerful remote sensing SAR technology bouncing microwave signals off the Earth’s surface to detect physical properties and agricultural changes. These insights help crop insurers and the agricultural industry verify cover crops, tillage, planting dates, acreage, crop classification, and weather damage at scale.

Following the most recent funding round which closed in June, PlanetWatchers has secured £10m in funding, allowing the company to significantly increase its commercial footprint with crop insurers and agricultural input providers.

The funds raised will also allow the company to continue to invest in its industry-leading SAR-based data analytics as well as expand its commercial teams to maximise opportunities and address the increasing market demand to help solve global food security issues.

Seraphim Investment Trust PLC, the world's first listed SpaceTech investment company financing the growth of companies operating in the 'new space' ecosystem, and Creative Ventures, a deep tech venture firm investing in early-stage companies solving humanity’s most critical crises, co-led the funding round, with The Trendlines Agrifood Fund, BIG Capital and Ridgeline Partners also investing.

Commenting on the recent funding, Dominic Edmunds, PlanetWatchers chief executive, has said: 

“I’m delighted that PlanetWatchers can now take the next steps on our ambitious journey to tell the story of every field. We are thrilled to have the support of both Serpahim and Creative as co-leads and the other investors in the round. We look forward to expanding our market-leading technology and our commercial footprint together.”

Andre Ronsoehr, principal at Seraphim Space, said:

“PlanetWatchers have achieved an awful lot over the past year, and I am proud of the entire team at the company. They have established themselves as a great partner to major companies that are vital in ensuring today’s global food supply chains, namely crop insurers, and agricultural companies.”

Champ Suthipongchai, Creative Ventures general partner, added: 

“Rarely do I see a company so well managed and executed as PlanetWatchers, thanks to its CEO, Dominic, and its executive team. The company continues to grow by leaps and bounds since our initial investment and is clearly a category leader within the crop insurance industry.

“I have utmost confidence in its potential to upend multiple other industries through its satellite aperture radar (SAR) technology.”

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