IDGeo receives investment from BB Ventures, Banco do Brasil's CVC fund

IDGeo, an agritech specialized in technological solutions for monitoring and managing agricultural areas, is closing a seed round of R$6 million led by BB Ventures, Banco do Brasil's Corporate Venture Capital (CVC) fund, managed by MSW Capital.

Founded in 2016, in Piracicaba (SP), IDGeo uses radars and sensors on orbiting satellites for agricultural monitoring, allowing images to be obtained even in cloudy conditions – ensuring continuous and accurate analysis of the areas observed. Additionally, the company develops proprietary artificial intelligence algorithms to interpret these satellite images, making it possible to identify specific problems in the field. In this way, it facilitates decision-making and expands the potential of agribusiness. 

With expertise in business intelligence, intelligent spatial analysis, geostatistics, big data and geoprocessing, agritech has clients such as Ipiranga Agroindustrial, Acelen Renováveis, NTT Data and Bracell. IDGeo also works on international projects with FGV in Côte d'Ivoire and Nigeria, focused on regenerative and family agriculture.

With the cash resources, agritech will invest in different areas. First, in commercial expansion – IDGeo aims to increase presence and penetration in the agricultural sector through technologies already developed and ready for the market. Furthermore, the contribution will enable the development of products for the recovery of degraded pastures, with a focus on improving soil quality and increasing carbon sequestration capacity, contributing to environmental sustainability. 

"We are extremely pleased with this contribution, which will allow us not only to expand our presence in the market, but also to accelerate the development of innovative technologies for the recovery of degraded pastures and strengthen our artificial intelligence solutions. Our vision is to transform the agricultural sector with solutions sustainable and technologically advanced. This investment is crucial to achieving this goal," comments Ronan Campos, founder and CEO of IDGeo. 

Finally, IDGeo will use the funds received to accelerate the development of its proprietary AI technologies – which are being tested in Canada, the country that invests the most in this segment in the world. With strategic partnerships with institutions such as the Alberta Machine Institute Intelligence (AMII) and Olds College, the startup is finalizing a robust AI model for monitoring the agricultural sector.

In just over two years of operation, this is the 5th investment made by BB Ventures Banco do Brasil's CVC fund, which seeks to invest in startups that have strategic synergies with the bank and aims to expand the role of the financial institution in the ecosystem of innovation.

Moises Swirski, partner at MSW Capital, specialized in Corporate Venture Capital, says: “We identified in IDGeo a core of relevant technical excellence. By investing in IDGeo, BB Ventures leverages an important technology for agribusiness efficiency. IDGeo's intelligence of accurate reading of satellite radar data on soil conditions and crop performance brings a low-cost beacon to agricultural management, making it possible to guide strategies, evaluate performance and perceive highly valuable opportunities. ”