Beewise, a climate tech company behind the AI-based BeeHome, announced the closing of a $50 million Series D growth investment, with participation from Fortissimo Capital, Insight Partners, APG Asset Management, lool Ventures, Badiya Capital, Marav Mazon Group, and Austin Hearst (Tom Horne).
Problem being addressed: Approximately three-fourths of the world’s flowering plants and one-third of food crops, including many nutrient-dense fruits, vegetables, and nuts, rely on bee pollination. But bees have been dying at rates that jeopardize our global food security: 62%+ of colonies in the US died last year alone. And climate change’s extreme weather and monoculture-related health threats, such as pesticides and pathogens, are devastating our pollinators. Plus, commercial beekeepers are not well-positioned to help their colonies face these challenges: apiary locations can be hundreds of miles apart, skilled labor is scarce, and a given hive typically receives a visit only every few weeks.
BeeHome: In response to these global challenges, Beewise developed the BeeHome, which utilizes AI and precision robotics, powered with solar energy, to offer bees “active”, real-time, autonomous treatment, rather than the passive monitoring that previous generations of hive sensor technology offer. And all 1,240 BeeHomes currently in operation utilize machine learning to continuously monitor and assess hive health, supported by skilled beekeepers. For beekeepers and growers who still want to make decisions for their hive, the BeeHome’s proprietary software conveniently enables them to take remote action from a desk or mobile device, protecting bees from threats and optimizing hive strength. The end result is healthier colonies, improved crop yields, and enhanced biodiversity.
Momentum: Beewise has achieved key milestones since its 2022 Series C financing, such as:
1.) Developing into the leading provider of pollination services globally, supported by thousands of AI-powered robotic beehives in the field and pollinating 300K+ acres annually for hundreds of growers, including Nuveen Natural Capital (part of TIAA Investments), Agriland, Olam Food Ingredients, and more.
2.) Implementing AI agents using novel models to mitigate climate risk in the agriculture market.
3.) Proving out a real-world use case of an adaptive, autonomous robot.
4.) Building out an AI team delivering the first-of-its-kind autonomous beekeeper model, deploying RNNs, machine learning, and reinforcement learning methods.
How the funding will be used: This new funding brings the company’s total raised capital to nearly $170 million and will advance Beewise’s technological innovation, market expansion, and research, all in service of its mission to save bees and secure the global food supply.
KEY QUOTES:
“We are very pleased with the results of our fundraising efforts. This financing round is a testament to our business momentum and validates our position as a global leader using AI to tackle one of humanity’s most pressing issues: declined pollination due to the global collapse of bee colonies.”
Beewise CEO and Co-Founder Saar Safra
“Beewise captured our attention early on with a bold vision and the technology to support it. Since then, the company has made exceptional progress, evolving from product innovation to achieving market leadership. Their continued success has only strengthened our confidence in both the leadership team and the long-term potential of the company. We are proud to participate in this latest round and support Beewise as they continue to scale their impact worldwide.”
Yoav Hineman, Partner at Fortissimo Capital and Beewise board member
“Since participating in Beewise’s Series C round, we have had a front-row seat to their healthy growth and progress towards their urgent mission of saving bees at scale. What Saar and the Beewise team are building has global implications for the environment, food chain, and so much more, and Insight is proud to continue our partnership with them in this next chapter.”
Daniel Aronovitz, Managing Director at Insight Partners and another Beewise board member
