|[March 19, 2014]
Blue River Technology Raises $10 Million from Data Collective Venture Capital, Innovation Endeavors and Khosla Ventures
MOUNTAIN VIEW, Calif. --(Business Wire)--
Blue River Technology, a pioneer in the use of computer vision and
robotics for agriculture, today announced it has raised $10 million in
Series A-1 funding led by Data Collective Venture Capital. Eric
Schmidt's Innovation Endeavors joined the round as a new investor, and
existing investor Khosla Ventures also participated. With this new
funding, the company plans to further expand its engineering team and
Over the past three years, Blue River Technology has developed and
successfully commercialized revolutionary robotic systems that unlock
greater yield potential in agriculture. Rather than the current approach
of applying chemicals inefficiently across entire fields, Blue River is
building a future in which "every plant counts" - where the needs of
each plant are measured and inputs are applied precisely in the required
dosage. Blue River's first commercial application is used to identify
and precisely eliminate unwanted plants in lettuce production. The
company is also working to extend its innovative plant recognition
systems and big data techniques for application with row crops like corn
and soybeans, which can benefit from phenotyping for crop breeding as
well as precise weed control.
"Blue River has taken huge strides towards reinventing food production
in a world of growing populations and scarce resources," said Jorge
Heraud, co-founder and CEO of Blue River Technology. "With our new
funding, we're looking to hire passionate engineers and scientists to
help us advance the boundaries of computer vision, machine learning,
robotics and agriculture in order to solve real-world problems."
"Blue River is taking a very innovative and practical approach to
solving one of the world's top problems - how to produce more food in a
responsible way," said Vinod Khosla, founder of Khosla Ventures. "I'm
impressed by how quickly the company brought its first product to market
and how successful it has been. This high-caliber lue River team has
assembled leading experts spanning both cutting-edge technology and
agriculture, and I believe they are in a great position to lead the next
generation of environmentally-friendly precision agriculture."
"Blue River is leveraging three important trends: machine learning,
data-driven agriculture and robotics," said Matt Ocko, founding partner
of Data Collective Venture Capital. "This approach has the potential to
revolutionize how we produce food in the near future."
ABOUT BLUE RIVER TECHNOLOGY
Founded in 2011 and based in Mountain View, California, Blue River
Technology's mission is to create and deliver advanced technology for
better agriculture. The company's pioneering approach utilizes computer
vision and robotics to build a future in which "every plant counts" -
where the needs of each plant are precisely measured, significantly
reducing chemical and nutrient use. The company brings significant
experience in precision agriculture, robotics, computer vision and
machine learning and is funded by prestigious investors including Khosla
Ventures, Data Collective, and Innovation Endeavors.
To learn more about Blue River Technology and opportunities to join its
fast-growing team, please visit http://www.bluerivert.com or
contact Blue River Technology via email at firstname.lastname@example.org.
ABOUT DATA COLLECTIVE VENTURE CAPITAL
Data Collective is a leading venture capital firm that backs
entrepreneurs building the next generation of Big Data, deep compute,
and IT infrastructure companies. Data Collective delivers powerful value
to its entrepreneurs with a unique venture capital model: an array of
highly engaged, world class technology leaders who share directly in the
firm's upside. For more information visit www.dcvc.com.
ABOUT KHOSLA VENTURES
Khosla Ventures offers venture assistance, strategic advice and capital
to entrepreneurs. The firm helps entrepreneurs extend the potential of
their ideas in breakthrough technologies in clean energy, mobile, IT,
cloud, big data, storage, health, food, agriculture and semiconductors.
Vinod Khosla founded the firm in 2004 and was formerly a General Partner
at Kleiner Perkins and founder of Sun Microsystems (News - Alert). Khosla Ventures is
based in Menlo Park, California. More information is available at www.khoslaventures.com.
ABOUT INNOVATION ENDEAVORS
Innovation Endeavors combines an evergreen VC fund, a unique approach to
venture-creation, and the support of a dynamic, international founder
community to help entrepreneurs build lasting companies that will have
significant financial and human impact. To learn more about its
community of bold, passionate entrepreneurs, visit www.InnovationEndeavors.com.
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