An Indianapolis-based agtech startup has closed on a $20 million Series B round of funding. IntelinAir Inc., which has developed an AI-driven crop intelligence software platform called AGMRI, says it will use the funding to boost development of the platform and add a small number of jobs.
Co-founder and Chief Executive Officer Al Eisaian says the AGMRI platform uses artificial intelligence technology to monitor and proactively alert farmers to issues before they cause problems. The company recently established its headquarters in Indy, in addition to an office in Illinois.
“We have been incredibly impressed by Intelinair in its use of AI to lead the ag intelligence revolution,” said Bill Wisialowski, managing member of Regulator Group LLC, which led the funding round. “Not only does Intelinair provide vital agronomical insights to growers, a $15 billion opportunity, but it also identifies actionable opportunities and provides tools to facilitate the decarbonization of the planet and drive sustainability and efficiency of food supplies, a global imperative.”
The funding round also included participation from Scientia Ventures, Takiff LLC, SDMC Ag Inc., and various senior executives in the ag and AI industries.
IntelinAir says it has added six leaders to its team over the last six months and plans to add three more by the end of the year.
“It is an honor to have great investors and great veteran ag industry leaders join our Series B investment round to help us accelerate our growth and allow us to deliver our services to a large number of additional farmers, ag retailers and other ag industry players,” said Eisaian.
In a recent interview on Inside INdiana Business with Gerry Dick, IntelinAir board member Tim Hassinger talked about the company’s move to Indy and potential for growth. You can watch the full interview below or by clicking here.