[Funding alert] Binny Bansal, Kalyan Krishnamurthy, and others invest in image processing startup Terraview
Singapore-based global image processing startup Terraview on Friday said it had raised $815,000 as a part of their Series A round, led by Binny Bansal, Co-founder Flipkart; Sujeet Kumar, Co-founder Udaan; Kalyan Krishnamurthy, Group CEO Flipkart; and Tanglin Venture Partners.
Along with the above-mentioned investors, Ankit Nagori, Co-founder, Curefit.com, and Abhishek Sharma, COO, Dineout, also participated in this round.
The company plans to use the funds to invest in going deep in solving complex problems of fungal disease, bacterial infection, soil hydration, canopy cover, and weather assessment using proprietary technology.
Founded in 2019 by high school friends Prateek Srivastava and Piyush Harsh, Terraview uses advanced image processing, machine learning, AI, and augmented reality to enable vineyards across the world become future ready.
The company does this by deploying drones to collect high quality images and processes it using their proprietary algorithm to give vineyards a real-time pulse of their land and produce.
In a statement, Terraview said its platform has been built for vineyards who lose significant produce because of low tech viticulture. It is a SaaS platform, currently live in Spain, and will soon be in Italy and France.
Explaining further, Prateek Srivastava, Co-founder and CEO of Terraview, said,
"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 cross $400 billion by 2020. With changing weather pattern and this unprecedented global demand, optimising 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.”
Prateek, has been a serial entrepreneur and in his previous avatar built the executive search firm, Basil Advisors. Piyush, Co-founder and CTO of Terraview, is an alumnus of IIT-Roorkee and University of Florida and has worked with some of the most reputed research labs in Paris and Zurich.
Terraview has a global team of experts on board and currently has teams working across Zurich, Madrid, Moscow, Toronto, and Florida.
(Edited by Teja Lele Desai)