GrainGrowers today announced the successful divestment of its digital agricultural platform to Australian agtech company, Flurosat.
The GrainGrowers Digital Agriculture Platform consists of a team of Canberra-based software developers and agricultural specialists who have delivered a range of leading digital agriculture products to farming businesses since 2009. A key output of the Digital Ag Platform has been the widely known and industry leading decision support tool, ProductionWise, and the divestment signals GrainGrowers’ refined strategic focus on policy, advocacy and capability building on behalf of its 17,000 members across Australia.
GrainGrowers CEO David McKeon said the decision to divest the platform aligned with GrainGrowers’ focus as a strong and influential voice for grain farmers.
“The move to divest the digital agriculture platform will enable GrainGrowers to focus on representing grain farmers across Australia, developing sound policy and advocating on their behalf. GrainGrowers will also continue to invest in enabling innovative grower leaders through a range of industry-leading capability building initiatives.”
Mr McKeon said the acquisition was a good result for staff, customers, GrainGrowers and Flurosat.
“Subscribers to our digital products will be transitioned to Flurosat and can expect a continuation of access to the same products and services. In addition, Flurosat maintains an existing data analytics platform for farmers known as Flurosense which combines drone and satellite imagery with algorithms to assess plant health, diagnose problems and direct fertiliser application which aligns well with ProductionWise.
“GrainGrowers is confident that Flurosat is the ideal group to develop the existing capabilities of our staff, improve our technology systems, deliver even better technology products to Australian farmers and help accelerate the agtech revolution in Australian agriculture,” Mr McKeon said.
Flurosat CEO Anastasia Volkova said the acquisition of the GrainGrowers digital ag platform, and ProductionWise in particular, was an exciting development for the Flurosat team and farmers alike.
“We are very pleased to be able to continue supporting the large, dedicated group of ProductionWise users. ProductionWise and FluroSense together will deliver an improved platform for all our current and future users for powerful, informed agronomic decision-making,” she said.
The expanded business will serve more than 1000 customers in Australia, New Zealand and the US, with plans to rapidly extend into new crops and regions.
Flurosat is an Australian-based agtech company born from the University of Sydney’s ‘Inventing the Future’ course. A data analytics platform for farmers, Flurosat combines drone and satellite imagery with algorithms to assess plant health, diagnose problems and direct fertiliser application.
Flurosat has recently been successful in raising $1.5 million in grants and investments from agtech companies, CSIRO’s Main Sequence Ventures and venture capital firm AirTree Ventures, with plans to develop its technology and expand into the US.
The divestment of the GrainGrowers Digital Agriculture Platform involved a global search for a suitable acquirer and included discussions with almost 50 organisations across the agribusiness and technology sectors. The divestment effort was led by Nick Bryant and Michael Southan at GrainGrowers with strategic support from Matthew Pryor at ag technology and food consulting business, AgThentic Pty Ltd.