Dutch agritech startup Satelligence is a satellite-powered geodata analytics company providing daily insights into the global performance of agricultural production and supply chain risks, such as deforestation, forest fires and flooding. The company has secured nearly €1.9M funding to bring about a transformation in the global commodity supply chains and eliminate deforestation.
Investment from 4impact!
Based out of Utrecht, Satelligence has secured $2.3M (nearly €1.9M) funding from Dutch tech and impact investor 4impact along with the European Commission’s Horizon 2020 programme. The investment will allow its clients to improve their mitigation of social and environmental risk involved in agricultural commodity production. Satelligence’s investment further strengthens the development and implementation of risk forecasting and carbon accounting methods.
Development plans ahead
Until recently, food and agribusiness players and investors lacked the tools and data necessary to assess and report progress to minimise deforestation, vegetation fires and other forms of ecosystem degradation. This resulted in environmental damage and social conflict. With Satelligence and other such agritech startups, it is possible to minimise these losses and damage.
Founded by Niels Wielaard in 2016, Satelligence leverages insights based on satellite and supply chain asset data, machine learning and human intelligence. The Dutch startup offers more accurate and granular visibility over their supply chains to identify those environmental risks and opportunities and take meaningful action. Its technology monitors land cover changes such as deforestation and fire impact using satellite imagery and artificial intelligence. These can be analysed within the most complete and up-to-date supply chain asset information.
Rapid warnings and science-based information delivered via web app, data feeds or custom reports help identify risky suppliers and reduce the necessity for ground checks. Apparently, it leads to better engagement and responsible sourcing strategies, contracts and investments.
“We achieved very strong growth to date based on market demand. Building on our strong partnerships, we aim to service new commodities and markets and cover more risks beyond deforestation and vegetation fires, enabling clients to be first to know and first to act on risk and performance issues,” says Wielaard, founder and CEO of Satelligence.
It helps customers including Mondelez, Unilever, Bunge, WorldBank, Rabobank, Robeco, World Wildlife Fund, and the Ministry of Foreign Affairs of the Netherlands demonstrate progress towards zero deforestation, and make the right sourcing and investment decisions. Commodities covered include palm oil, cocoa, soy, rubber, beef, pulp and paper, biomass among others. It has offices in the Netherlands, Bolivia, Indonesia, Ghana, and Tanzania.
According to the company, it hopes to expand to 2 – 3 other market segments which it thinks are serviceable: financial institutions, luxury goods and fashion. New industry-led commodity initiatives appear, for instance for rubber. “We will rapidly expand beyond palm oil, cocoa, and soy in the coming years. Leading coffee and rubber traders have already contacted us,” the company says.
Main image picture credits: Satelligence