Terraview, an image processing startup, has been able to bag $815,000 (approx ₹5.8 crore) in its Series A round of funding led by Kalyan Krishnamurthy, group CEO of Flipkart, Binny Bansal, co-founder of Flipkart, including clutch of investors, reported ET.
The Singapore-based startup Terraview will use the proceeds from the funding round going deep in solving complex problems of fungal disease, bacterial infection, soil hydration, canopy cover and weather assessment using proprietary technology.
“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, optimising 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,” Prateek Srivastava, co-founder at Terraview, said.
Terraview was founded by by Prateek Srivastava and Piyush Harsh in early 2019. Terraview, a SaaS platform, claims to be the world’s first image processing startup focused on vineyards, particularly those in Europe.
The platform Terraview uses advanced image processing, machine learning, AI and augmented reality, in the process, assisting vineyards to get a real time pulse of their land and produce, according to an official statement released by the company on Friday.
Terraview, which deploys drones to capture high-quality image and processes the same using its proprietary algorithm, is currently live in Spain, and expects to begin operations Italy and France over the course of the next few months.
According to the official statement, the startup currently has teams working across Zurich, Madrid, Moscow, Toronto and Florida.