The Bosch Group has increased its investment in The Yield Technology Solutions, an Australian Internet of Things AgTech business. As the major shareholder, the increase takes the Bosch Group investment to a total of $13.3 million.
The Yield is transforming farming practices for irrigation intensive crops with scalable digital technology solutions. The company is developing its proprietary digital application to support critical production decisions for large commercial growers in the specialty crops industry.
In addition to its investment, Bosch is the technology partner responsible for the development and manufacture of the connectivity hardware for The Yield’s proprietary solution, Sensing+.
The Yield announced this week that it had finalised investment of $11 million, led by venture capital group, Yamaha Motor Ventures & Laboratory Silicon Valley and with further investment by Bosch.
“Bosch’s further investment in The Yield reflects our confidence that they have something quite unique, and are now gaining serious traction with corporate customers,” said Gavin Smith, President of Bosch Oceania.
“We are very pleased that Yamaha Motor Ventures recognise this too, and have joined us on the share register of The Yield,” said Smith.
Ros Harvey, founder and managing director of The Yield said she was “delighted with the investment and the tremendous support from these well-known, global technology organisations”.
“This is recognition of our efforts in delivering a world-class solution in weather and yield predictions for our customers,” said Harvey.
The Yield’s Sensing+ combines sensors and analytics to provide information and predictions in easy-to-use apps that help large commercial growers make important on-farm decisions like when to irrigate, feed, plant, protect and harvest.
“There is no doubt, Agriculture 4.0 is coming of age, and Australia is poised to play a leading role thanks to companies like The Yield,” said Smith.