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The Climate Corporation Buys HydroBio
The Climate Corporation, a Monsanto subsidiary, has bought HydroBio, an agriculture software company based in Denver, Colorado. The HydroBio team will join The Climate Corporation in delivering digital to farmers worldwide.
“HydroBio has unique irrigation-focused data analytics capabilities, and as global water use for crop production increases, efficient irrigation is becoming even more important to the future of sustainable agriculture,” said Mike Stern, chief executive officer for The Climate Corporation, in a news release. “HydroBio has built a successful business, and their tools will complement our Climate FieldView digital agriculture platform offerings in the future.”
HydroBio uses a combination of satellite imagery, soil data, and hyper-local weather data to deliver irrigation insights for farmers to help improve crop water-use efficiency and maximize yields, said officials for the companies in a news release. Its data-driven irrigation-management platform turns satellite images into actionable information, builds custom irrigation prescriptions for optimized water application, and provides crop health monitoring throughout the growing season for enhanced productivity, stated company officials in a news release.
“We at HydroBio are very excited to join The Climate Corporation to bring our scalable irrigation management offering to more farmers in the future,” said Barrett Mooney, co-founder and chief executive officer for HydroBio, in a news release. “We’re looking forward to collaborating with the great team at Climate to enhance the Climate FieldView platform and introduce new, digital tools that transform how technology is used on the farm.”
Prior to this acquisition, Monsanto Growth Ventures (MGV), the venture capital arm of Monsanto Company, saw promise in the developing company and invested in HydroBio, incorporating it into the MGV portfolio that includes a wide-range of independent companies active in key areas of agricultural productivity.
This year, Monsanto Europe launched AquaTek, a commercial irrigation management tool for corn that is powered by HydroBio’s irrigation management platform. Officially launched in 2015, the Climate FieldView platform is on more than 100 million acres across the U.S., Canada, and Brazil, with more than 100,000 U.S. farmers engaging in Climate’s digital tools.
Backed by a data science engine and a field research network, Climate FieldView delivers customized insights that help farmers make data-driven decisions with confidence to maximize yield potential, improve efficiency, and manage risk, company officials said. In November 2016, the company acquired VitalFields, a European farm management software company based in Tallinn, Estonia, marking the company’s first step into the European market. The company plans to bring Climate FieldView to Europe in the coming year, with additional launch plans for Australia, Argentina, and South Africa over the next few years.