Ceres Imaging has revealed a Sequence D capital elevate and introduced its rebranding to “Ceres AI.”
When saying these developments in a Thursday (Aug. 22) press launch emailed to PYMNTS, the corporate didn’t disclose the funding quantity.
Ceres AI, which offers information and analytics to assist growers, lenders and insurers scale back their farming threat and enhance their profitability, mentioned within the launch that it’s going to use the brand new funding to develop each domestically and internationally.
Relating to its rebranding, the corporate mentioned the “Ceres AI” model highlights its decade of expertise with synthetic intelligence (AI), laptop imaginative and prescient and machine studying (ML) and its use of those applied sciences to assist contributors within the agricultural business entry high quality information to make sooner, extra correct selections.
Ceres AI’s information, gathered over the past decade, consists of greater than 12 billion distinctive information factors and underpins the corporate’s proprietary ML algorithm that helps its prospects handle and function their land, mitigate threat, underwrite insurance policies and report sustainability metrics, in accordance to the discharge.
“Ceres AI is a frontrunner within the Ag business due to the sophistication with which we seize and analyze agricultural information,” Ramsey Masri, CEO of Ceres AI, mentioned within the launch. “Having leveraged AI and ML since inception, we felt it was time to spotlight our strengths on this space with a reputation that higher displays our basis and management within the house.”
The corporate additionally introduced within the press launch that it has appointed Krishna K. Gupta, CEO of Remus Capital, which led its Sequence D capital elevate, as chairman of Ceres AI.
“Verticalized AI alternatives prolong past LLMs [large language models] alone, as they unlock the subsequent layers of large worth in a given vertical,” Gupta mentioned within the launch. “Given the distribution challenges intrinsic to the agriculture business, incumbent startups like Ceres AI are poised to seize a lot of the worth.”
Tailoring AI solutions by business is essential to their scalability, PYMNTS reported in November 2023. AI options are solely pretty much as good as the info they’re educated on, so some observers consider that vertically oriented AI fashions provide enterprises the most secure, best means ahead.
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