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Taranis to Acquire the Assets of Mavrx to Create an Unprecedented Aerial Imagery Platform

May 17, 2018

TEL AVIV, Israel, May 17, 2018 (GLOBE NEWSWIRE) -- Taranis, a leader in high-resolution agriculture aerial imagery and deep learning, today announced the acquisition of all Mavrx assets, one of the world’s leading agriculture aerial imagery providers. Effective immediately, current Mavrx and Taranis clients have access to a powerful combination of aerial imagery products and precision agriculture services for their fields.

Ofir Schlam, CEO and co-founder of Taranis, noted, “Taranis is committed to serving all of its new and existing clients with the complementary product lines. We are especially excited about the synergy farmers will get immediately – UHR recognizing problematic zones, and AI2 classifying every weed, insect and disease so farmers can get the ideal prescription and improve yield.”

With the acquisition, Taranis will add San Francisco-based Mavrx’s UHR imagery product to its existing product and services portfolio. Combining Mavrx UHR with Taranis AI2, the world’s highest resolution aerial imagery product, gives farmers more power and control. As the most broadly available full-field imagery product on the market, Mavrx delivers 8cm-per-pixel resolution images provided by a fleet of 60 planes in 30 states across the U.S. Capable of recognizing and classifying weeds, diseases, insects and nutrient deficiencies on a single leaf at a resolution of 0.5 millimeters from a plane while flying at 120 miles per hour or from drones at 30 miles per hour, Taranis AI2 gives farmers a way to effectively monitor and protect their fields. In addition to UHR and AI2, other features provided by the Taranis platform include: variable-rate prescriptions, weather analysis with access to 220,000 weather stations, satellite imagery analysis and disease prediction models.

Arama Kukutai, Finistere Ventures partner and Taranis board member, who identified the acquisition opportunity, added, “Taranis is the technology leader in Ag aerial imagery, and we saw this acquisition adding to its footprint in the Americas, while also adding richer feature sets for farmers. We are happy to support the company in implementing the strategy of creating the platform that farmers want and need. With too many subscale players in digital Ag, this type of rollup is going to be more commonplace as the best-in-class players consolidate their position.”

Taranis will now manage more than 20 million acres on its precision agriculture intelligence platform to provide insights for top retailers, input manufacturers and large farms. Mavrx sales and operations teams will join Taranis U.S. operations to provide the best possible service to existing and new clients looking to optimize their production.

About Taranis

Taranis, a precision agriculture intelligence platform, helps farmers increase their yields and cut costs by giving them a way to effectively monitor their fields, make informed decisions and then act on them. The system uses sophisticated computer vision, data science and deep learning algorithms to detect early symptoms of weeds, uneven emergence, nutrient deficiencies, disease/insect infestations, water damage, equipment problems and more so that farmers can address issues quickly and understand the impact on yield and cost of production.

About Mavrx

Mavrx uses satellite and high-resolution crop imagery to deliver services to the agriculture inputs supply chain, input manufacturers and large farms. Mavrx’s award-winning precision agriculture platform and Mavrx Scout mobile tool are used by agriculture professionals around the world on more than 30 crops, from corn and soybeans, to cotton and sugarcane.

Media Contact:Erica CamiloConnexa Communications for Finistere VenturesC: 610.639.5644Erica@connexacommunications.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9ee349f5-6616-4163-9ee9-60ded8ad56b3

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