Adaviv has raised $2.3 million in an oversubscribed Series Seed financing led by Delta Emerald Ventures, with additional backing from Poseidon Asset Management and the SOJE Fund. With these partners and the financing proceeds, the company will expand its customer base in commercial cannabis production, grow the Adaviv team and accelerate the development of new sensing and product integration features.
AdaViv's Lean Cultivation™ Platform and Crop-Care™ Software leverages proprietary software, machine vision and AI analytics to illuminate plant health and growth biometrics, enabling earlier detection, treatment efficacy tracking and lower costs of labor and waste. Adaviv has helped cannabis operators detect 7-10 times more plant health issues in a timely manner, reduce cycle-to-cycle yield variation by 50% and drive 20%+ yield improvements.
Crop loss is a $220 billion annual cost to the agriculture industry. Even within Controlled Environment Agriculture, where climate, water and lighting can be precisely controlled, pests, diseases and other plant stress factors can create volatility in yield and quality, or even catastrophic crop loss.
Adaviv is first bringing its solutions to the cannabis industry, where it is essential to optimize the health and performance of each plant. Tools like pesticides and chemical fertilizers that are standard across agriculture are not available to the highly regulated and fragmented cannabis market. Early detection and intervention of pests and diseases are critical to success, and Adaviv has produced over 3 million annotated plant images from high-resolution data containing rare instances of pests, disease and stress.
"Actionable insights are fundamental to any successful business, and agriculture is moving quickly from physical atoms to digitized bits. As cannabis cultivation grows increasingly sophisticated, early adopters of data-driven strategies are reaping the rewards," said Ian Dominguez of Delta Emerald Ventures. "We believe rich and unified cultivation data will delight Adaviv's customers and prove valuable to the cannabis data ecosystem."
"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.
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