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FREMONT, CA: Artemis, the AgTech startup previously known as Agrilyst, has announced that it has raised an $8 million Series A funding round. The round was co-led by Talis Capital and Astanor Ventures, with involvement from iSelect Fund and New York State’s Empire State Development Fund. With the new funding round, the company has now raised a total of $11.75 million.
With the launch of Agrilyst in its earlier days, the company mostly concentrated on helping indoor agronomists and greenhouse operatives manage their operations by quantifying data about their crop yields and other matrices. Over the course of the past few years, a shift has been observed from the original course with the expansion of the company’s mission. Today, Artemis sees itself as an enterprise cultivation management platform with a primary focus on all aspects of indoor farming, together with managing workers and ensuring compliance with food safety and local cannabis policies.
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Artemis is a virtual agronomist portal that helps indoor farmers to manage crops based on sensory data, providing businesses with an expanded platform for a more unobstructed view of all of their operations. Artemis also integrates its processes with existing systems that range from climate control to enterprise resource planning tools and point of sale systems. Technological innovations are rapidly altering the agriculture sector. Artemis’ advance to using data as a medium for growth and risk management provides the company with remarkable improvement over enterprise-level horticulture operations.
It is worth mentioning that cannabis was not something the company focused on in its early years, but it now accounts for about half of the company’s revenue. While a few years ago, many investors deemed it unnecessary to invest in a company in the cannabis business, it has become a minor issue today. The company’s clients are currently worth a collective $5 billion, which has provided the correct impetus to the company, developing plans to use the new funds to scale its sales and expand its team.
Check Out This: Cannabis Business Insights
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