Lincolnshire, UK-based FruitCast, a startup that offers yield forecasting services for soft-fruit growers, announced that it has secured £2.8M in a fresh round of funding.
In 2022, Ceres Agritech provided £520K in initial funding to FruitCast to create the tool and assemble a team of research scientists and industry specialists.
The latest funding of over £1.1M will facilitate FruitCast’s launch.
According to BusinessCloud, FruitCast, which underwent trials on UK soft fruit farms for the last two years, is set to launch in 2024.
FruitCast says it will use the funds to launch a subscription system.
The development will continue for six months and will offer early access in the 2024 growing season.
The platform’s scope will expand to include various crops beyond soft fruits.
The funding came from private investors, including Ceres Agritech, and support from Innovate UK’s investor partnership programme.
The UK-based company aims to meet growers’ demand for precise fruit growth forecasts, assisting in labour and supply planning while safeguarding profit margins.
FruitCast utilises a moving camera to capture thousands of daily photos to evaluate individual fruit count, weight, and maturity for millions of berries.
FruitCast’s technology offers predictions for labour and market planning up to six weeks ahead.
It’s being field-tested with leading UK soft fruit growers W B Chambers and Place UK, with positive results and grower feedback driving substantial investment.
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