This creates the largest remote-sensed dataset in the world with over 20 million temperature readings for machine learning and artificial intelligence (AI) algorithms that optimize grain storage environments worldwide as part of the Internet of Things (IoT). The terms of the deal were not disclosed.
“Spoilage and energy optimization in drying grain continue to be multi-billion dollar issues; TeleSense provides the data insights needed for players throughout the global grain ecosystem to improve safety and profitability,” said Naeem Zafar, CEO of Telesense. “The acquisition of Webstech greatly accelerates our entry into the European market and provides millions of additional historical data points to further refine our machine learning technology and predictive algorithms.”
Already deployed across the US and Australia, grain storage operators and transporters around the globe can now increase profits by alleviating spoilage and reducing quality degradation with a platform called GrainSafe. This is a scalable AI platform continuously monitors temperature and humidity via portable and fixed wireless sensors to provide a real-time, comprehensive view of stored grain conditions.
The deal provides TeleSense with 20 million temperature and humidity observations generated by hundreds of existing Webstech customers to improve its proprietary machine-learning algorithms, while meeting EU General Data Protection Regulation (GDPR) requirements.
Thomas Kylling, an agriculture industry veteran and CEO of Aarhus-based Webstech, joins TeleSense team as managing director for Europe to support current European customers and drive TeleSense’s European expansion. “After operating in the European remote sensing space for almost a decade, I was absolutely blown away by TeleSense’s integration of data science with an IoT solution for grain,” said Kylling. “I think that TeleSense will help drive the automation of the grain supply chain, and I’m excited to help lead the effort in Europe.”
TeleSense will add a European office in Denmark and integrate Webstech technology advances, including industrial automation capabilities, solar/battery power functionality and alternate form factors such as sensor spears, into its own offering.
“How grain is stored, handled and traded in the years to come will change as new IoT-enabled technologies take hold throughout the supply chain,” added Peter Votkjaer Jorgensen of Maersk Growth Ventures, who will join the Board of Directors of the newly created TeleSense Europe ApS subsidiary. “We think that this acquisition by TeleSense will accelerate the mission of higher sustainability and efficiency in the grain supply chain.”
“Standards in Europe are incredibly unique, and many agtech startups stumble trying to get a foothold in this complicated market,” added Finistere Venture’s Spencer Maughan, who is also on the TeleSense Board of Directors. “TeleSense will now be able to swiftly scale its footprint across Europe.”
Telesense is already backed by European funders such as Finistere Ventures, Maersk Growth, Rabobank’s Food & Agri Innovation Fund.
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