chilean instacrops raises us$100,000 at silicon valley’s thrive accelerator
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Contxto – Having received over 500 startup submissions and with a 3 percent admission rate, no doubt acceptance into Silicon Valley’s THRIVE accelerator program is a big accomplishment. And from Latin America, Chilean Instacrops was one of the lucky 13 to make it into the batch.
Thanks to its Internet of Things (IoT) and artificial intelligence (AI) technology, the startup from Santiago is helping farmers make the most of their crops. And for its efforts, THRIVE has contributed with US$100,000 in seed funding for Instacrops.
Although for now, the startup is sowing its time into this four-month long accelerator program. Naturally, networking and workshops are part of the deal. Plus, on pitch day, scheduled for next June, it has the chance to earn up to US$200,000 in a follow-on investment.
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Instacrops and the Internet of Plants
The startup developed a digital assistant that’s “got the dirt” on everything that’s happening on the field.
From satellites, to weather alerts, drones, and sensors, the system absorbs the data from all these sources and it’s crunched away by the startup’s algorithms. After which, via an app or desktop computer, farmers are advised on how to optimize soil use, the appropriate amount of water, and other notifications of that nature.
The overall objective is to help small and medium-sized farmers’ productivity through technology in a simplified and accessible way.
Rain or shine, Instacrops wants to be the one to democratize access to tech in agriculture.
Moreover, the startup can already be found in the fields of 7 Latin American countries.
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What’s next?
Mario Bustamante, Instacrops’ CEO and Co-founder, told Contxto its upcoming plans with the funding from THRIVE. The startup will be focusing on its international expansion. Specifically, it’ll consolidate its operations in Chile and Mexico.
But it also has its eyes set on the United States.
“We want to make the most of the customers we already have [in Latin America] who also have operations in the United States,” said Bustamante in written correspondence. “That way we can learn from them.”
Strategic scaling indeed.
Grow for it, Instacrops.
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-ML
