InnerPlant, a California-based biotech startup, and Satellogic announced at the World Agritech Innovation Summit a strategic partnership to launch a unique device capable of detecting genetically engineered crop signals from space.
It is a satellite-mounted imager that aims to transform global farming by providing valuable data that would help save farmers losses of up to $200 billion due to pathogens and excessive use of pesticides that result in up to $250 billion of wasted resources worldwide.
According to data insights from BIS Research, the global satellite imaging for agriculture market was valued at $516.1 million in 2022, and it is expected to grow with a CAGR of 7.50% during the forecast period 2023-2028 to reach $785.3 million by 2028.
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How Can Satellite Imaging Benefit Farmers?
Here’s the Complete Story
In the past, farmers were challenged with a lack of prompt and useful data. However, the introduction of satellite-based imaging provides a scalable solution by delivering alerts to farmers, leading to early interventions and healthy yields.
The manufactured imaging instrument will be mounted onto a Satellogic satellite to identify optical signals emitted by crops engineered by InnerPlant in space orbit. These crops are programmed to fluoresce in response to stress, such as attacks from pathogens or insufficient water and nutrients.
Moreover, in the coming months, drone-based aerial testing will commence, paving the way for the launch of the satellite-mounted imager aboard a SpaceX Falcon 9 rocket later in the year.
In the summit, Shely Aronov, the CEO and founder of InnerPlant, said that improved data obtained directly from plants empowers farmers to enhance yields while minimizing their reliance on chemical inputs. Given the extensive scope of modern farming, with numerous farms spanning thousands of acres, satellite detection becomes a pivotal and cost-effective method for collecting valuable data.
Major agritech companies are placing their trust on Inner Plant’s plant distress signal technology, for instance in 2022, John Deere led a $16 million series A funding round for the startup.
Moreover, as Satellogic aligned its Earth Observation data collection with farming objectives, thus it presents immense potential for the future of the agriculture market with substantial growth. For instance, the graph below shows the growing number of investments and funding deals in the global satellite imaging market, which shows the potential the market holds.
Furthermore, at the World Agritech Innovation Summit, Emiliano Kargieman, CEO of Satellogic, highlighted the immense potential of making high-resolution, top-notch remote-sensing imagery accessible to all. He emphasized that one compelling illustration of this potential lies in utilizing Satellogic's imaging capabilities to assist farmers in meeting the food requirements of the planet's expanding population. This approach simultaneously reduces reliance on chemicals and promotes sustainability.
Conclusion
The partnership between InnerPlant and Satellogic represents a significant milestone in the agricultural industry. By harnessing spaceborne technologies to detect crop signals, farmers can access vital information to enhance their farming practices. This collaboration not only addresses the economic aspects of yield losses and pesticide waste but also offers a pathway toward a more sustainable and efficient agricultural future.
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