NRW.BANK invests in agricultural AI start-up Pheno-Inspect

NRW.BANK is investing in the agricultural AI start-up Pheno-Inspect from Mülheim an der Ruhr. As part of a current financing round, the development bank converted convertible loans of EUR 500,000 into an investment. The aim of the financing is to support the further development of AI-supported software for more efficient and sustainable agriculture.

AI software analyzes drone images of farmland

Pheno-Inspect is developing a software solution that uses artificial intelligence to automatically analyze drone images of agricultural land. The application provides precise information on the condition of the fields: It counts plants, detects weeds and diseases and thus enables a more targeted use of fertilizers and pesticides. Farmers can thus reduce costs and conserve environmental resources at the same time. All that is needed for the analysis is the use of commercially available drones.

Promoting sustainable agriculture in NRW

NRW.BANK's participation underlines its role as a promoter of innovative technologies in North Rhine-Westphalia. According to the bank, data-based agriculture makes a decisive contribution to using resources more efficiently and driving forward the transition to a more climate-friendly agricultural sector. Pheno-Inspect is seen as an example of the combination of technological innovation and sustainable development.

Spin-off from the University of Bonn and other investors

Pheno-Inspect was founded in 2020 as a spin-off from the University of Bonn. NRW.BANK supported the start-up with two convertible loans in the early development phase. These enabled the company to develop its technology from research to market maturity without having to sell company shares at an early stage.

In addition to NRW.BANK, other investors are participating in Pheno-Inspect as part of the current seed financing round. These include several private investors via the business angel network Companisto as well as the agricultural machinery company CLAAS, which is acting as a strategic partner. The startup plans to use the fresh capital to expand its team and further develop its AI technology.