Koidra Raised $4.5M Seed Funding to Bring Intelligent Automation to Greenhouses and Beyond

Koidra Raised $4.5M Seed Funding to Bring Intelligent Automation to Greenhouses and Beyond

Date
March 29, 2022
Tags
Intelligent AutomationAutonomous Greenhouse

Intelligent automation combines multiple disciplines — such as artificial intelligence, mathematics, and physics — to transform real-time data into useful decisions. Koidra delivers decision intelligence to their clients for improved operational decision making, a top technology trend identified by analyst firm Gartner. Besides operational efficiency gains, Koidra solutions also advance manufacturing businesses on their journey to achieving hyperautomation, another strategic technology trend identified by Gartner.

Why It Matters

CEA is a growing space based on various factors such as the demand for more food and water, consumer preferences for local/sustainable products, grocer demand for resilient supply chains, and negative impacts of climate change on outdoor agriculture. However, the sector still faces many challenges including a shortage of skilled aging growers without successors, massively complex control systems, operational inefficiencies due to manual processes, and a lack of data-driven decision making.

Our investment thesis was to invest in a best-in-class 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. Their 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

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