May 23, 2024 11:20 JST

Source: NEC Corporation

NEC X Invests in Agtech Startup Verdi, Integrates AI-Powered Platform with NEC's Cropscope Smart Farming Initiative
- Verdi partners with NEC X to rapidly scale its groundbreaking platform for farm automation -

TOKYO, May 23, 2024 - (JCN Newswire) - NEC X, the Silicon Valley innovation accelerator backed by NEC’s portfolio of advanced technologies, today announced a new investment in Verdi Expeditions Inc., the world’s first scalable platform for farm automation and personalized plant healthcare.

Alongside its strategic investment, NEC X will collaborate with Verdi to enhance its technology and geographic reach while augmenting NEC's CropScope initiative. This complementary joint effort will enrich farm irrigation practices in Portugal with Kagome Co., Ltd, while at the same time, CropScope will empower Verdi’s farm automation capabilities and expand support for agricultural production.

This collaborative synergy and partnership exemplify the mission of NEC X's Elev X! programs, which are designed to foster strategic alliances that bridge technological gaps, drive innovation and accelerate the adoption of transformative startups globally.

This also signifies Verdi’s entry into Elev X! Boost, which provides startups on the brink of significant scaling with a customizable blend of capital, strategic partnerships and integrations with NEC’s expansive tech ecosystem.

"With increasingly severe weather and resource scarcity globally, it’s clear that we need new, innovative agricultural infrastructure that is both efficient and sustainable," said Shintaro Matsumoto, President and CEO of NEC X. "NEC X is committed to addressing this urgent issue through our strategic investment in Verdi, whose innovative solutions are set to transform farming practices. We’re confident Verdi will make a lasting impact, as part of Elev X! Boost and the CropScope initiative."

"Our strategic partnership, collaboration and integration with NEC X is invaluable as we enhance our AI capabilities and scale our platform to reach new markets. With NEC’s international reach and deep sector expertise, we are uniquely positioned to be a global leader," said Arthur Chen, CEO and Co-founder of Verdi. "NEC X’s support is more than an investment – it’s a partnership focused on startup success."

Founded in 2020 by Canadian entrepreneurs Arthur Chen and Roman Kozak, Verdi is building modern automation tools for agriculture and solving the scaling challenges that have traditionally prevented the widespread adoption of farm automation.

Verdi’s intelligent devices transform existing farm infrastructure (ex. irrigation equipment) into smart systems capable of AI-powered automation, enabling farmers to boost crop and workforce productivity while significantly reducing technology adoption costs. Verdi has also driven sustainable impact for its customers, which include the world’s largest food brands. In 2023, Verdi saved its customers over 30 million liters of water.This latest investment synergizes with NEC’s long-ranging commitment to promoting sustainable and profitable farming.

This includes the development of its AI-enabled agricultural information and communication technology (ICT) platform, "CropScope," as well as the establishment of joint ventures such as DXAS Agricultural Technology LDA with Kagome Co., Ltd.

With this investment, NEC X also joins a roster of other notable investors in Verdi, including SVG Ventures who is part of NEC X’s growing partner ecosystem offering invaluable expertise, resources and opportunities to help startups scale and who initially introduced Verdi at THRIVE’s accelerator demo day in Calgary during Stampede 2023.

To learn more about the Elev X! programs, please visit: https://elev-x.com.

About NEC X

NEC X is an innovation powerhouse and curator of disruptive startups backed by the global technology leadership of NEC. Leveraging NEC’s 125 years of IT and network technologies expertise, NEC X’s startup-focused approach transforms visionary ideas into commercial successes that revolutionize how we work and live. Since its inception in 2018, NEC X has helped launch and grow more than 100 startups.Their Silicon Valley programs – Elev X! Ignite and Elev X! Boost – equip early-stage startup founders with the tools to fast-track their tech development and adoption. Elev X fuels startup success from inception to launch, connecting innovators with NEC’s 45,000 patents; global network of partners, mentors and advisors; reach into 55+ international markets; and $8 billion R&D ecosystem.For more information, visit https://nec-x.com and https://www.elev-x.com.

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

Source: NEC Corporation
Sectors: Agritech, Artificial Intel [AI]

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


NEC and Ursa Space collaborate on satellite image analysis services using one of the world's largest virtual constellations
June 20 2024 12:20 JST
 
NEC hosts New Zealand Prime Minister Christopher Luxon
June 19 2024 18:00 JST
 
NEC develops compact millimeter-wave distributed antenna for Beyond 5G/6G through the development of a radio-over-fiber system enabling low power consumption
June 17 2024 15:06 JST
 
NEC announces external appointment of executive personnel
June 05 2024 16:43 JST
 
Successful demonstration of a superconducting circuit for qubit control within large-scale quantum computer systems
June 03 2024 17:58 JST
 
Celonis and NEC begin Proof of Concept Integrating Generative AI and Process Intelligence
May 28 2024 19:20 JST
 
NEC Leverages RISE with SAP and AI to Build Business AI in Move to the Cloud
May 17 2024 10:19 JST
 
NEC X Invests in Public Safety Startup Multitude Insights, Scaling AI-Powered Collaboration and Information Sharing for Law Enforcement
May 08 2024 09:24 JST
 
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
April 24 2024 12:25 JST
 
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
April 22 2024 14:09 JST
 
More Press release >>

Latest Press Release


More Latest Release >>