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FieldPro and SpaceX Join Forces Toward a More Connected Future in the Brazilian Field, Aiming to Deploy Technology That Connects Agricultural Devices to Satellites
The Brazilian climate monitoring and agriculture market is preparing for a technological leap with an innovative partnership between FieldPro, a climate monitoring startup, and SpaceX, the aerospace and communications giant founded by Elon Musk, which has closed a Series A deal for R$ 30 million. This partnership is about to take connectivity in agriculture to a new level in Brazil, according to Info Money.
FieldPro plans to connect its climate monitoring devices directly to Elon Musk’s SpaceX satellites. By the end of 2023, more than 150 units from the startup will be installed in strategic agricultural production locations throughout Brazil, transmitting data on climate and soil every hour. This action will complement the existing 650 devices that currently rely on Wi-Fi for data transmission. Devices connected to Elon Musk’s SpaceX are expected to increase FieldPro’s climate data collection infrastructure by 23%.
FieldPro Towards Series A: Developing Solutions for the Agricultural Sector Alongside Elon Musk’s Company
This partnership with Elon Musk’s SpaceX is more than just a connectivity issue; it is a strategic move for FieldPro. The Brazilian startup, led by Ricardo Sodré, is committed to data accuracy and speed. Its focus includes expanding its services to the rural credit and insurance market.
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The companies are developing an algorithm capable of analyzing the climate and operational risk of rural properties. To finance this ambitious initiative, FieldPro is in the process of raising R$ 30 million in a Series A round. The startup is already in advanced negotiations with four investment funds, expecting to finalize the process by January 2024.
A Change in FieldPro’s Life
This is a significant turning point for the FieldPro startup, which until now had been funded by an angel investor. Before seeking new investments, the startup wanted to validate its value proposition and technology, which led it to capture a considerable share of the climate monitoring market in Brazilian agribusiness.
Currently, they monitor 1.3 million hectares of crops, representing 80% of their total revenue, although the exact figure has not been disclosed.
Climate change has transformed the agricultural landscape, making accurate, real-time climate data more crucial than ever. Extreme weather phenomena occur unpredictably, making climate data analysis fundamental. In the past, farmers could rely on regular weather patterns, but today, the climate is more volatile, requiring more precise data collection.
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