Greek start-up Augmenta, a pioneer in artificial intelligence and automation technologies in precision agriculture, has just been acquired by CNH Industrial for $110 million. It will maintain its existing employees and offices in Greece and the USA.
Raven Industries today announced it would begin the strategic integration of Augmenta after the acquisition of the machine vision company by CNH Industrial (NYSE: CNHI / MI: CNHI), Raven’s parent company.
Augmenta’s comprehensive variable rate application (VRA) solution uses a real-time sensor to process field conditions and automatically apply the optimal amount of product for nitrogen, plant growth regulator, harvest aid and fungicide applications based on the real-time data it collects.
It uses camera vision and artificial intelligence capabilities more sensitive than the human eye to automatically control precise application rates based on factors like canopy health. This maximizes nutrient effectiveness to increase yields while saving inputs to reduce negative environmental impact and input costs. These cost savings are visible in real time on a web-based analytics and monitoring platform.
As a result of the acquisition by CNH Industrial, Augmenta will retain its operations in Greece and the U.S.
The organization will become part of Raven, united to help farmers serve the world. Raven and Augmenta are committed to building a more sustainable future by reducing the impact of harmful chemicals in soils and reducing input costs, improving farmers’ profitability and long-term viability. Raven will continue strategically investing in Augmenta’s location in Athens, Greece, as an innovation hub.