Deep Agro raises $2M for AI-based Agtech expansion to Brazil and the US

Date:12-18-2023

Deep Agro, an innovative Argentine artificial intelligence startup, has completed a significant financing round of $2 million, as initially reported by Contxto. Founded in 2017 and based in Casilda, Santa Fe, Deep Agro is gearing up for a strategic expansion into Brazil and, subsequently, the United States. The company aims to revolutionize agricultural practices using AI technology to minimize agrochemical usage.

Expansion and Innovative Approach

With the recent investment, Deep Agro is set to expand its footprint in key markets. The startup’s intelligent system is designed to optimize agricultural production by reducing reliance on agrochemicals, addressing the industry’s economic and environmental concerns.

Founders and AI Technology

Deep Agro was founded by a group of five friends from the National University of Rosario: Juan Manuel Baruffaldi (CEO), Juan Ignacio Cavalieri (CTO), Juan Ignacio Cornet (CRO), Iván Regali (Director of Human Resources), and Marcos Mammarella (CSM). Their collaborative efforts have led to developing a prototype that significantly improves agricultural efficiency. Deep Agro’s AI solution distinguishes crops from weeds with a 4% margin of error and offers an 80% reduction in chemical product usage.

Funding and Future Plans

The financing round, led by Draco Capital and supported by several prominent funds, propels the Argentinean company towards its aim of becoming a leader in AI applications in agriculture globally. The company plans to initiate tests and validate its technology in Brazil in the coming months, focusing on applying deep learning techniques in agriculture.

AgTech Growth in Latin America

The AgTech sector in Latin America is witnessing rapid growth and transformation. Startups like Deep Agro are at the forefront, leveraging technology to address critical challenges in agriculture. With its vast agricultural resources and increasing tech adoption, Latin America is becoming a hotbed for AgTech innovation. This sector promises to enhance agricultural efficiency, sustainability, and productivity, addressing regional and global food security concerns.