Return to site

Adaviv Raises $2.3M in Upsized and Oversubscribed Seed Round

broken image

New Stack Ventures is excited to announce that Adaviv has raised an upsized and oversubscribed $2.3M seed round to scale their AI-Driven Plant Intelligence Platform for Indoor Farming. 

This round, led by Delta Emerald Ventures with additional backing from Poseidon Assent Management and the SOJE Fund, will expand its operations into commercial cannabis production, grow their Somerville, Massachusetts Adaviv team, and drive the development of new features. 

broken image

Crop loss is a growing cost to the agricultural industry to the tune of $200B. The cannabis market is at an even greater disadvantage since tools common in agriculture, like fertilizers and pesticides, are not available to the highly regulated cannabis industry. AdaViv’s Lean Cultivation Platform™ and Crop-Care™ Software is aiding cannabis operators to detect serious health issues quicker and yielding 20% improvements. 

"We are ecstatic to be partnering with Delta Emerald Ventures, who share our vision of an integrated data-driven ecosystem for the cannabis industry and beyond to a future of high quality, accessible and sustainably grown food and medicine," said Ian Seiferling, Ph.D, Co-Founder and CEO of Adaviv. 

Congratulations on this amazing milestone, Adaviv! We look forward to seeing what comes next!

Original Source: