PALO ALTO, CALIF. — Food technology startup BeeHero has completed an oversubscribed $42 million Series B funding round, providing further investment to accelerate growth and development of its “precision pollination” platform. BeeHero has raised a total of $64 million to date.
Founded in 2017, BeeHero uses advanced data analytics, artificial intelligence and low-cost sensors to optimize commercial crop pollination, resulting in improved crop yields and higher profits for growers. Increasing bee mortality rates have threatened production of many of the world’s fruit, vegetable, seed, nut and oil crops, according to the United Nations. Nearly 100,000 acres of high-value crops across the United States are pollinated using BeeHero’s technology, and the company has begun expansion into Australia, Europe, South Africa and South America.
“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, chief executive officer of BeeHero. “We have seen firsthand 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 toward building a Sustainable Agriculture Ecosystem.”
The funding round was led by Convent Capital and included participation from General Mills, Cibus Capital (formerly ADM Capital), Rabobank, MS&AD, Firstime, J-Ventures, Plug&Play, iAngels, Gaingels, UpWest and others.“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 at 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.”