SYDNEY, Oct. 16, 2023 /PRNewswire/ -- Australian agtech company Agronomeye, which develops interactive 3D digital twins of farms, has been awarded a prestigious Accelerating Commercialisation grant under the AusIndustry Entrepreneurs' Programme.
The $750,000 grant, which will be matched by Agronomeye, will support the business to ramp up work on its key product, AgTwin™, believed to be agriculture's first digital twin. Delivering actionable and marketable insights at the farm scale, AgTwin™ enables landowners to make decisions that drive profitability, sustainability and resilience across the landscape. Importantly, it also enables verifiable reporting to meet the needs of financiers, insurers, customers and supply chain partners.
CEO and co-founder Stu Adam says the technology is transforming the way landholders make on-farm decisions, and the grant funding will enable the business to scale more rapidly and develop key capabilities, including a companion app to help capture more data about the farm more often to enrich the digital twin.
"We are very proud to have been awarded this grant, not only because of what it will unlock for us as a business, but because we know that this programme has always been incredibly rigorous. It's a testament to the potential of the work we are doing and the dedication of our team, and a real vote of confidence."
The funding will be used to support the development of fit-for-purpose reporting functionality as AgTwin™ furthers its commercial applications. To make the most of the insights AgTwin™ can generate, it must be able to meet the reporting needs of farmers and those who will need information out of the system, right across the supply chain.
"For some, that might be a simple PDF, for others it will be a dynamic integration with their supply chain partners This funding will enable us to invest in the solutions that will make reporting simple and valuable to key stakeholders. It's an important and big step towards full commercialisation," Stu says.
He says government funding programs play an important role in supporting innovation in agriculture.
"This kind of support is critical for businesses like ours which are addressing important needs in essential sectors. High value data insights bring much needed integrity and transparency to this evolving part of agriculture, and we are really excited to be helping address that challenge."
"We're excited to have some major projects underway, including a recently announced partnership with RegenCo, which is using AgTwin™ to provide transparency and integrity for regulators, farmers and investors in the carbon market. It's an exciting time for us and the industry."
About Agronomeye
Agronomeye is an Australian agtech company, advancing the use of digital twins in agriculture. Using highly-detailed imaging technology combined with advanced data modelling, the goal is to enable farmers, land managers and their many stakeholders to make informed, risk-free decisions that are both nature-positive and profitable.
Agronomeye's proprietary platform, AgTwin™, delivers on-farm insights that are actionable and marketable across the spectrum of an ag business, including erosion control, carbon farming, biodiversity, animal welfare and sustainable land management. This rich and dynamic stack of data offers integrity and transparency to a supply chain that is starved of meaningful and reliable sustainability metrics at the farm scale.
Agronomeye, co-founded by Stu Adam and Tim Howell in 2015, collaborates with major organisations including Microsoft and CSIRO. In addition to being awarded an Accelerated Commercialisation Grant, Agronomeye was a finalist in KPMG's Nature Positive Challenge 2022.
