Terraview, which is an Image Processing startup has now secured INR 5.8 crore in the funding round that has been led by the clutch of high-profile investors, which includes the Kalyan Krishnamurthy, the Group CEO of Flipkart and Binny Bansal, the co-founder of the Flipkart.
Some other investors who have also put in money into the Singapore based startup in its Series A round of funding include the Sujeet Kumar, Co-founder of Udaan, Ankit Nagori, Abhishek Sharma and others.
The company which is founded by the Prateek Srivastava and Piyush in the year 2019. It is a SaaS platform, claims to be the world first image processing startup focused on vineyards, particularly those in Europe. It uses machine learning, AI, advanced image processing, and AR, in the process, assisting vineyards in getting a real-time pulse of their land and even producing, according to the report.
“Viticulture globally is at an inflection point. The demand for wine is at a high, and it will continue to grow over the next decade. The current global Wine market is a little over $300 billion and is expected to touch $400 billion-plus by 2020. With changing weather pattern and this unprecedented global demand, optimizing for quality to produce better and driving efficiency to produce higher volumes are going to be significantly important for the future and Terraview is solving for this global need,” Srivastava said.
The startup will now be going to use the funds to go deep in solving complex problems of fungal disease, soil hydration, weather assessment and bacterial infection with the help of proprietary technology, said the announcement.