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.
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