Main Sequence Ventures contributed to a $3.2m round that brought predictive crop management technology developer FluroSat's funding total to $8.6m.

Australia-based predictive crop analytics platform developer FluroSat has raised $3.2m in a round backed by Main Sequence Ventures, the VC firm owned by research institute Commonwealth Scientific and Industrial Research Organisation, AgFunderNews reported yesterday. The round was led by M12, the investment unit of software publisher Microsoft, and also included Artesian/GRDC GrainInnovate Fund, a VC partnership between Australian government-owned Grains Research and Development Corporation and venture firm Artesian. VC firm Costanoa Ventures also supplied a share of the funding, as did accelerator Muru-D, Space Capital, Artesian Clean Energy Seed Fund and AirTree Ventures. Founded in 2016, FluroSat has created a predictive farm analytics platform branded FluroSense that applies deep spectral analysis to detailed farm images from drones and nanosatellites to project agricultural performance and the likelihood of crop disease. Farmers can also use FluroSat’s ProductionWise technology to gauge how much fertiliser to use and pinpoint the best location for soil sampling. FluroSat enhanced its offering in November 2018 by buying digital agricultural technologies owned by Grain Growers, an Australia-based trade body for grain farmers. The purchase enabled FluroSat to add new features to its platform, such as smaller target ranges for performing analysis and clearer alerts to farming issues identified by the technology. FluroSat has now raised $8.6m of funding altogether, according to AgFunderNews. The company raised $1.2m in December 2017 from Main Sequence Ventures, AirTree and a consortium of strategic investors led by the Australian government-owned Cotton Research and Development Corporation. FluroSat also previously participated in the Muru-D accelerator, which was described by AgFunderNews as an existing investor.

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