Cork ag-tech company raises €1.5m in funding
ApisProtect, a Cork-based agricultural technology company, has raised €1.5m in funding.
The company develops and produces applications for beekeepers based on Internet of Things (IoT) technology.
Specifically, it uses in-hive sensors to monitor honey bee colonies, and then provides the beekeeper with in-depth information about the health and condition of their colonies, using machine learning and big data technologies.
The company will use the funding to increase its international expansion, opening its first US office at the Western Growers Association’s centre for innovation and technology in California.
In addition, ApisProtect aims to expand its workforce to 25 over the next three years.
"This investment will allow us to accelerate our expansion as we work to create an extensive global hive health database to power our machine learning insights," Dr Fiona Edwards Murphy, CEO and co-founder, ApisProtect, said.
"We look forward to building our team of AI specialists, engineers and scientists over the next 3 years to 25 staff, and helping to reduce honey bee losses worldwide."
The seed round of financing was led by Finistere Ventures and Atlantic Bridge Capital.
Radical Growth, the Yield Lab, and Enterprise Ireland also participated in the funding round.