Agritech Startup Companies FluroSat and Dagan Enter Merger to Form New Business Regrow

By James White Wednesday, March 3, 2021

Sustainable agriculture is a staple of modern-day climate protection initiatives, and as technology continues to grow within the agricultural business, companies find new and improved ways to conduct the ancient practice. Agritech startup businesses FluroSat and Dagan recently announced a merger in which Flurosat acquired Dagan, forming a new startup company, Regrow, powered by AI, or artificial intelligence. The merger joins the technology and scientific know-how of both businesses in order to bolster a united effort to promote resilient agriculture practices. The details of the agreement were not disclosed at this time.

Farmers in surgical masks discussing agriculture in a field.

Joining Forces

Each startup company brings its own expertise to Regrow’s platform. FluroSat launched in 2016, founded by entrepreneur and scientist Dr. Anastasia Volkova. The startup business later found support from investors totaling $8.6 million. Microsoft’s M12 investment firm led the most recent seed funding round for the agritech company.

FluroSat offers agricultural data analytics and remote sensing agronomy services. The company uses machine learning AI to help farmers quickly detect and address stressed crops, as well as potential adjustments in nutrients at specific sites.

Co-founded by Dr. William Salas in 2018, Dagan’s startup company utilizes satellite technology to offer comprehensive soil health assessments. The agritech business also uses advanced soil modeling software to understand nutrient cycling, which in turn helps inform sustainable farming decisions made by users.

“Soil carbon sequestration is finally emerging as a globally relevant strategy for drawing down excess atmospheric carbon dioxide,” Dr. Salas said. “Shortcuts, misconceptions, and over-hyping have the potential to stunt the tremendous potential of soil carbon, but the merger of FluroSat and Dagan will give the industry the confidence and integrity it needs with best-in-class soil health data that can prescribe site-specific strategies and provide accuracy and transparency that will help companies succeed in carbon markets.”

Dr. Salas will be taking on the role of CSO at Regrow, while Dr. Volkova operates as CEO of the new startup business.

Agritech Industry on the Rise

In an environmentally conscious time, advances in agriculture technology are increasingly recognized as necessary to achieve many climate protection goals. Market research projects that the global agriculture technology-as-a-service market will value $2.49 billion by 2024. The creation and support of agritech startup companies like Regrow will assist many countries with sustainability objectives, while providing farmers with cost-effective opportunities to improve upon their existing practices.

“Over the next decade, we need to grow and produce enough food to nourish 10 billion people around the world in a way that protects our land and stems climate change,” said Ranveer Chandra, Chief Scientist of Azure Global at Microsoft. “Regrow’s computational agriculture, using machine learning and scientific modeling will help improve the accuracy of accounting for soil carbon, and bring farmers closer to benefitting from carbon markets.”

About the Author

Headshot of James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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