Australian ag-tech company GoannaAg has secured $?3.35 million in growth funding to advance on-farm sensor technology.
Westpac Bank, GrainCorp and Michael Hintze Premium Farms (MHPF) are among the contributing organisations, reports Trade Farm Machinery.
The funding will be used by GoannaAg to expand its team to further develop and deploy on-farm sensor solutions and the completion of their LoRaWAN (Long Range Wide Area Network) network for the Australian cotton industry.
With an initial focus on irrigated cotton, GoannaAg offer end-to-end sensor solutions that drive profitability, increase on-farm efficiency and help mitigate risk.
With a strong focus on optimising water management, the integration of in-field sensors into the powerful GoSat analytics platform allows growers to better measure and manage water.
Using this approach, growers can expect significantly increased water use efficiency, and create a more profitable and sustainable business, according to GoannaAg.
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GrainCorp says it sees their investment as a ‘critical piece in solving the challenges of connectivity in rural Australia’. “We were also attracted by Goanna’s approach of exploring novel solutions to help our grower clients drive profit and reduce risk and inefficiencies,” GrainCorp chief development officer Marcus Kennedy says.
MHPF director Richard Taylor says its investment was driven by the belief that affordable sensors and connectivity will help unlock substantial on-farm potential.
“Having reliable insights from farm specific data, at a price well below what’s currently available, has enormous value in helping us make everyday management decisions a little bit smarter and quicker,” Taylor says.
“The key to resilience and a stronger future for regional and rural Australia relies on maximising the resources we have and driving innovation across the sector,” says Westpac head of agribusiness Steve Hannan.
“Collaboration, information sharing and investments such as this are critical to maintaining Australia’s globally competitive edge, and we’re very pleased to be involved in GoannaAg’s exciting journey.”