What will Cnh of Exor do with French Augmenta
CNH Industrial has acquired a minority stake in Augmenta, a French company specializing in agricultural technologies. All the details
Cnh Industrial, controlled by Exor, the holding company of the Agnelli family, has acquired a minority stake in the French Augmenta, a company active in the sector of intelligent agricultural technologies.
THE CNH INVESTMENT
The investment of the Agnelli family company took place as part of an 8 million dollar Series A financing round, in which, in addition to CNH (which led the round), Pymwymic, Marathon Venture Capital and Hcvc also participated. .
“The investment will accelerate Augmenta's penetration of the precision farming market, driven by its revolutionary camera-driven retrofit system that fully automates the most impactful farming operations,” the company explains in a statement.
WHO IS AUGMENTA
Augmenta is a Paris-based startup, active in the agricultural technology sector, founded by George Varvarelis (current CEO of the company) and Dimitris Evangelopoulos. It operates in 16 countries, including Australia.
WHAT AUGMENTA DOES
The technological company, which in Greece, the birthplace of Varvarelis, manages a research and development center, has developed an automation system for agricultural operations based on cutting-edge technologies of computer vision (Computer Vision) and artificial intelligence.
Augmenta's technology, using multispectral cameras, analyzes crop foliage, monitors damage or flooding in the field, and channels this information to send commands to the tools it is connected to, indicating to them the appropriate amounts of chemicals or fertilizers to apply to the crops, in a single pass of the tractor.
VARVARELIS: READY TO EXPAND BUSINESS
“This round of investments will help us expand our distribution network around the world and accelerate our ambitious research and development plans,” commented George Varvarelis. “We are thrilled to partner with a high-level OEM like Cnh Industrial and a major impact investor like Pymwymic. They share our vision of "Green Silo-Free Technology" and are determined to help us provide solutions to empower all farmers, regardless of the size of their land or their favorite tractor brand. "
CNH: OUR CUSTOMERS WILL HAVE ACCESS TO PRECISION TECHNOLOGIES
"Cnh Industrial is delighted to partner with Augmenta, as this collaboration will provide Cnh Industrial customers with accelerated access to precision automation technologies that improve productivity, along with significant sustainability benefits," said Moten Schmidt, Global Leader , Digital and Precision Solutions & Telematics, Agriculture Segment, Cnh Industrial.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/cosa-fara-cnh-di-exor-con-la-francese-augmenta/ on Mon, 05 Apr 2021 06:23:42 +0000.