Satelligence, an Utrecht, The Netherlands-based agritech company, raised $2.3m in funding.
Backers included Dutch tech and impact investor 4impact and the European Commission’s Horizon 2020 programme.
The company intends to use the funds to expand adoption of its solutions.
Led by Niels Wielaard, founder and CEO, Satelligence is a satellite-powered geodata analytics company providing daily insights into the global performance of agricultural production and supply chain risks, such as deforestation, forest fires and flooding. Customers including Mondelez, Unilever, Bunge, WorldBank, Rabobank, Robeco, World Wildlife Fund, and the Ministry of Foreign Affairs of the Netherlands use its solution to make the right sourcing and investment decisions. Commodities covered include palm oil, cocoa, soy, rubber, beef, pulp and paper, biomass among others.
Satelligence leverages insights based on satellite and supply chain asset data, machine learning and human intelligence to offer accurate, granular visibility over their supply chains to identify those environmental risks and opportunities and take meaningful action. Its tech monitors land cover changes like deforestation and fire impact using satellite imagery and artificial intelligence, analysed within the context of the most complete and up to date supply chain asset information. This includes millions of farms and plantation concessions, mills and silos, ownership, group structure and supplier linkages. Rapid warnings and science-based information, delivered via web app, data feeds or custom reports, identify risky suppliers while reducing the need for ground checks, leading to engagement and responsible sourcing strategies, contracts and investments.
Satelligence operates from offices in Indonesia, Ghana, Bolivia, and The Netherlands.
FinSMEs
24/11/2020