Main Sequence Ventures-backed FluroSat has joined forces with its peer Dagan and the combined business will operate from the US as Regrow.
FluroSat, an Australia-based predictive crop analytics platform developer backed by Main Sequence Ventures, has merged with soil health technology developer Dagan to form a new business called Regrow.
FluroSat agreed to acquire Dagan for an undisclosed figure last month in an all-stock transaction. Regrow will be headquartered in the US and will replace both the FluroSat and Dagan brands.
Regrow will be led by chief executive Anastasia Volkova, founder of FluroSat.
Founded in 2016, FluroSat runs a farm analytics platform that relies on deep spectral analysis of farm images from drones and nanosatellites to forecast agricultural performance and calculate the likelihood of crop disease.
FluroSat obtained $8.6m in funding altogether. It raised $3.2m in a 2019 round backed by Main Sequence Ventures, the venture firm set up by Commonwealth Scientific and Industrial Research Organisation, and led by M12, the investment arm of software producer Microsoft.
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
