BeeHero, the pioneer of Precision Pollination, announced it has completed an oversubscribed $42M Series B funding round. Lead investor Convent Capital was joined by General Mills, Cibus Capital (formerly ADM Capital), Rabobank, MS&AD, Firstime, J-Ventures, Plug&Play, iAngels, Gaingels, UpWest, and more. To date, BeeHero has raised $64M. This new round of funding will enable BeeHero to accelerate the growth and adoption of its Precision Pollination Platform. The funding will provide further investment in BeeHero’s R & D, essential for generating more data and insight into the Sustainable Agriculture Ecosystem it is building to address the issue of global food security.
“BeeHero’s mission is to deliver pollination accountability for commercial crop growers, by leveraging big data analytics and machine learning to help them mitigate pollination risk. Thus allowing them to focus on producing more food, securely, and sustainably,” said Omer Davidi, CEO of BeeHero.
“We have seen firsthand,” Davidi continued, “the challenges our growers face from insufficient and inadequate pollination. To offset this, more and more farmers are adopting new technologies to meet the nutritional needs of our growing population. Our Precision-Pollination-as-a-Service Platform is a crucial tool farmers can rely on to improve their crop yields. This latest round of funding will help us continue to support the agricultural industry as it faces some of its toughest challenges yet, and is another step towards building a Sustainable Agriculture Ecosystem.”
FAST-PACED GROWTH
BeeHero has invested several years in building the world’s largest bee and pollination dataset. The company is working hard to understand more about how this data can help to further optimize pollination, the crucial biological process that a majority of crops depend on. BeeHero’s revolutionary platform provides farmers with Precision-Pollination-as-a-Service, by enabling commercial beekeepers to remotely track and monitor their apiaries. Moving forward, the company plans to integrate new platform tools to further support growers with an even more accurate, real-time view of their crop's development, leading to improved decision-making and ultimately better crop outcomes.
“BeeHero is bringing breakthrough innovation to an essential but often overlooked part of the food ecosystem, pollinators,” said Johnny Tran, Managing Director for 301 INC, General Mills. “As an industry, we need innovation in all parts of the value chain, and BeeHero is using data to reimagine the classically analogue connection between growers, beekeepers, and bees. At 301 INC, we exist to elevate founders who are building the food system of tomorrow, and we are proud to support BeeHero’s efforts to build pollination transparency, efficiency, and resiliency through technology.”
“We are thrilled to support BeeHero as they continue to rapidly scale their precision pollination services. BeeHero is the perfect example of how technology can bring value to all stakeholders in an agricultural ecosystem, supporting bees, beekeepers and farmers and ultimately delivering more sustainable and healthier foods to consumers,” said Alastair Cooper, Head of Venture at Cibus Capital.
RESPONSIBLE AND EFFICIENT FOOD SYSTEM
With close to 100 thousand acres of high-value crops pollinated with BeeHero’s Precision-Pollination-as-a-Service, BeeHero now serves growers, beekeepers, agronomists, and ag retailers across the US. Recently the company has begun its expansion into Australia, Europe, South Africa, and South America. The company has clearly defined its position in regard to championing the health and welfare of bees. This is demonstrated in its partnership with the USDA to combat the spread of Vespa Mandarinia (commonly known as the Northern Giant Hornet). Among other initiatives, BeeHero is also working with The World Bee Project to support more pollinators and biodiversity.