Oxford Innovation EIS Growth Fund 3 and the OION Angel Network have invested in Deep Planet, an Agri-tech start-up using AI technology to help winemakers and growers tackle the challenges of climate change.
Deep Planet's innovative AI tools for viticulture use satellite imagery and machine learning to provide winemakers with the data they need to ensure grape quality, accurately predict yields, and inform farmers when it’s the right time to harvest. This is becoming increasingly difficult amidst the ongoing challenges posed by climate change, with rising temperatures, periods of drought, and excessive rainfall.
Using Deep Planet’s prediction SaaS platform, winemakers can make informed decisions on soil health, disease control, irrigation and nutrient management that optimise both the yield and quality of grape harvests. The platform offers a highly accurate, cost-effect alternative to traditional methods, that paves the way for a more profitable and sustainable future for vineyards.
This latest £680,000 fundraise provides Deep Planet with the funds to scale its AI technology in France, the USA, Spain, Italy and South America. It will also support further development of its ‘SoilSignal’ service, that will help project developers, farmers and businesses measure, report and verify the impact of regenerative farming.
David Carter, Co-Founder and CEO at Deep Planet said: “Deep Planet was founded with the goal of using machine learning to address environmental risk for the benefit of the planet. Our AI technology is transforming sustainable farming with precision viticulture, assisting growers and winemakers to increase harvest efficiency, enhance yield resilience and drive sustainable production. This latest investment enables us to achieve our global vision and scale our technology across Europe and America.”
Steve Headington, OION Angel Investor, commented: “Precision agriculture is a very exciting area for impact investing right now, so I am therefore delighted to have been able to co-lead this Deep Planet fundraise with Oxford Innovation Finance. Smarter farming is essential to reducing our carbon emissions, and this fundraise provides the financial certainty and ongoing support to the Deep Planet team to expand their proven VineSignal offer and to develop their SoilSignal service using state-of-the-art machine learning tools.”
Richard Cooper, Managing Director at Oxford Innovation Finance, added: “Deep Planet’s prediction SaaS platform is transforming how vineyards operate. With the potential for application in regenerative agriculture practices that cover a broad range of crops, we look forward to helping Deep Planet realise their significant growth potential and supporting the development of their initiatives that can overcome the challenges of our future.”
Published: January 2024.