In March 2022, Koidra raised US$4.5 million in a seed round led by Ospraie Ag Science (OAS) with participation from Amritam Holdings, Cavallo Ventures, and Foothill Ventures.
Intelligent automation combines multiple disciplines including artificial intelligence, mathematics and physics to transform real-time data into useful decisions. Koidra deliver Decision Intelligence to their clients to optimize the operational decision making process and advance manufacturing businesses on their journey to achieving hyper-automation.
Why It Matters
Controlled Environment Agriculture (CEA) is a growing sector over concerns of rising demands for food and water, locally and sustainably sourced products, resilient supply chains and negative impacts of climate change on outdoor agriculture.
Meanwhile, it faces a shortage of skilled growers, challenges of massively complex control systems, operational inefficiencies due to manual processes, and a lack of data-driven decision making.
Our thesis was to invest in a state-of-the-art AI and automation tech stack serving indoor growers that reduces operating risk and production volatility while enabling growth in the overall CEA market.
We scoured the CEA landscape and found Koidra to be the most compelling opportunity that aligns with this thesis. They have a full-stack data-driven AI platform that helps companies upstream (connecting data from multiple data silos), midstream (visualizing and monitoring the data and creating new insights), and downstream (turning data into actions for higher productivity, and autonomously). This translates to significantly improved yield, higher profitability, and reduced environmental impact.
Koidra’s technology is based on a new paradigm of combining physics and reinforcement learning and their team is top-notch, led by Kenneth Tran, a former AI researcher at Microsoft. Koidra’s public track record in the autonomous greenhouse challenge further validates their approach, consistently outperforming higher funded technology companies and expert growers in simulation and real-world applications. Additionally, feedback from Koidra’s existing and prospective customers during our due diligence process was superb which includes some of the largest greenhouse growers in North America. We are thrilled to partner with Koidra and are excited to watch them transform the CEA and industrial automation sectors.
- Brett Morris, Managing Director at Cavallo Ventures
Koidra is an intelligent automation (IA) startup based in Seattle and focused on industrial IoT for agricultural and industrial applications. Koidra was founded by Kenneth Tran, a former principal applied scientist at Microsoft, with a mission to transform controlled-environment agriculture, and sustainable agriculture at large, using artificial intelligence of things technology. Learn more About us
Ospraie Ag Science
Ospraie Ag Science LLC (OAS) identifies solutions to help farmers “Do More With Less.” By increasing profitability, improving quality-adjusted yield, and reducing environmental impact, OAS’s companies benefit growers as they produce smarter, healthier, and more efficient food for consumers globally. For more information, please visit www.ospraieagscience.com
About Amritam Holdings
Amritam Holdings is an investment group that provides capital and expertise to distinctive sustainability companies. Led by experienced entrepreneurs, CEOs, and investors across food, agriculture, energy, consumer products, and finance, Amritam seeks to partner with entrepreneurs to help them navigate startup and growth challenges, while creating positive change in the world. For more information, please visit https://www.amritamholdings.com
About Cavallo Ventures
Cavallo is the investment arm of Wilbur-Ellis Holdings Inc., which distributes agricultural products, animal feed, and specialty chemicals and ingredients through various companies. With their investments, Cavallo looks for dedicated founders solving real problems, each with an unwavering resolve to build and execute. Beyond capital, they provide deep expertise and market knowledge, enabling founders to launch new products and services, run trials, expand, and recruit new talent. For more information, please visit https://www.cavallovc.com/
Foothill Ventures is a technology-focused venture fund based in Los Altos, CA. They make pre-seed, seed (preferred), and A-round investments in startups across the software, life science, and deep tech industries. For more information, please visit https://www.foothill.ventures/