PlanetWatchers secures $11m to support crop insurers
Summary
The company uses series-based radar data to provide detailed analysis of claims, without ever needing to visit the field. The use of SAR, a remote sensing technology bounding microwave signals off the Earths surface, helps PlanetWatchers to detect physical properties and the change to them over time, therefore providing valuable insight to customers.The funding following a successful pre-Series A round, which the company closed in June 2021.PlanetWatchers said the capital will allow it to increase its commercial footprint with crop insurers and agricultural input providers. The funds raises will also allow it to continue to invest in its SAR-based data analytics alongside the expansion of its commercial teams to maximise opportunities and address the increasing market demand to help solve global food security issues.Dominic Edmunds, chief executive for PlanetWatchers, said. We look forward to expanding our market-leading technology and our commercial footprint together.Andre Ronsoehr, principal at Seraphim Space, added, 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 todays global food supply chains, namely crop insurers and agricultural companies.Earlier this year, IBISA, an Agri-InsurTech on a mission to provide innovative weather protection insurance, raised seed funding.