Dublin-based startup Proveye, which uses AI to provide accurate image-based insights for improved farming and environmental decisions, has raised €900,000 from the European Space Agency under the ARTES Business Applications and Space Solutions Programme. The funding will help Proveye further develop its platform.
- Founded in 2019 by Jerome O'Connell and Nick Holden, Proveye is a spin-out from the UCD School of Biosystems and Food Engineering. The company develops an AI-powered remote sensing platform that uses advanced image analysis to provide accurate, real-time measurements and insights.
- By integrating data from multiple image sources and sensors, Proveye delivers reliable perspectives for sectors such as agriculture, nature conservation, food production, and Industry 4.0. Its platform enhances decision-making, enabling improved performance monitoring, outcome prediction, and risk management at both local and large scales.
Details of the deal
- The fresh capital came from the European Space Agency - ESA, a Paris-based intergovernmental organization with 22 member states, focused on coordinating Europe’s space activities.
- Proveye's second collaboration with the European Space Agency (ESA) under the ARTES Business Applications and Space Solutions Programme focuses on advancing remote measurement and monitoring of nature-based solutions for carbon removal and habitat restoration in grasslands.
- This partnership will empower farmers, provide insights to project owners, and give investors proof of the impact of their natural capital investments, driving sustainability and climate resilience.
"This contract is expected to have far-reaching impacts, not only in Europe but globally, by driving efficiencies in habitat and grassland management and contributing to broader sustainability targets for all stakeholders in food production, natural capital and biodiversity restoration," Proveye's team, commented.
- Proveye will use the funds to develop its platform further, which combines satellite and drone image processing with AI technologies.
