NEC X Invests in AgTech Startup Verdi, Integrates AI-powered Platform With NEC’s CropScope Smart Farming Initiative
May 22 2024 - 9:00AM
Business Wire
Verdi Partners with NEC X to Rapidly Scale Its
Groundbreaking Platform for Farm Automation
NEC X, the Silicon Valley innovation accelerator backed by NEC’s
portfolio of advanced technologies, today announced a new
investment in Verdi Expeditions Inc., the world’s first scalable
platform for farm automation and personalized plant healthcare.
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Alongside its strategic investment, NEC X will collaborate with
Verdi to enhance its technology and geographic reach while
augmenting NEC's CropScope initiative. This complementary joint
effort will enrich farm irrigation practices in Portugal with
Kagome Co., Ltd, while at the same time, CropScope will empower
Verdi’s farm automation capabilities and expand support for
agricultural production.
This collaborative synergy and partnership exemplify the mission
of NEC X's Elev X! programs, which are designed to foster strategic
alliances that bridge technological gaps, drive innovation and
accelerate the adoption of transformative startups globally.
This also signifies Verdi’s entry into Elev X! Boost, which
provides startups on the brink of significant scaling with a
customizable blend of capital, strategic partnerships and
integrations with NEC’s expansive tech ecosystem.
“With increasingly severe weather and resource scarcity
globally, it’s clear that we need new, innovative agricultural
infrastructure that is both efficient and sustainable,” said
Shintaro Matsumoto, President and CEO of NEC X. “NEC X is committed
to addressing this urgent issue through our strategic investment in
Verdi, whose innovative solutions are set to transform farming
practices. We’re confident Verdi will make a lasting impact, as
part of Elev X! Boost and the CropScope initiative.”
"Our strategic partnership, collaboration and integration with
NEC X is invaluable as we enhance our AI capabilities and scale our
platform to reach new markets. With NEC’s international reach and
deep sector expertise, we are uniquely positioned to be a global
leader,” said Arthur Chen, CEO and Co-founder of Verdi. “NEC X’s
support is more than an investment – it’s a partnership focused on
startup success.”
Founded in 2020 by Canadian entrepreneurs Arthur Chen and Roman
Kozak, Verdi is building modern automation tools for agriculture
and solving the scaling challenges that have traditionally
prevented the widespread adoption of farm automation. Verdi’s
intelligent devices transform existing farm infrastructure (ex.
irrigation equipment) into smart systems capable of AI-powered
automation, enabling farmers to boost crop and workforce
productivity while significantly reducing technology adoption
costs. Verdi has also driven sustainable impact for its customers,
which include the world’s largest food brands. In 2023, Verdi saved
its customers over 30 million liters of water.
This latest investment synergizes with NEC’s long-ranging
commitment to promoting sustainable and profitable farming. This
includes the development of its AI-enabled agricultural information
and communication technology (ICT) platform, “CropScope," as well
as the establishment of joint ventures such as DXAS Agricultural
Technology LDA with Kagome Co., Ltd.
With this investment, NEC X also joins a roster of other notable
investors in Verdi, including SVG Ventures who is part of NEC X’s
growing partner ecosystem offering invaluable expertise, resources
and opportunities to help startups scale and who made the initial
introduction to Verdi at THRIVE’s accelerator demo day in Calgary
during Stampede 2023.
To learn more about the Elev X! programs, please visit:
https://elev-x.com.
About NEC X
NEC X is an innovation powerhouse and curator of disruptive
startups backed by the global technology leadership of NEC.
Leveraging NEC’s 125 years of IT and network technologies
expertise, NEC X’s startup-focused approach transforms visionary
ideas into commercial successes that revolutionize how we work and
live. Since its inception in 2018, NEC X has helped launch and grow
more than 100 startups.
Their Silicon Valley programs – Elev X! Ignite and Elev X! Boost
– equip early-stage startup founders with the tools to fast-track
their tech development and adoption. Elev X fuels startup success
from inception to launch, connecting innovators with NEC’s 45,000
patents; global network of partners, mentors and advisors; reach
into 55+ international markets; and $8 billion R&D
ecosystem.
For more information, visit https://nec-x.com and
https://www.elev-x.com.
About NEC Corporation
NEC Corporation has established itself as a leader in the
integration of IT and network technologies while promoting the
brand statement of “Orchestrating a brighter world.” NEC enables
businesses and communities to adapt to rapid changes taking place
in both society and the market as it provides for the social values
of safety, security, fairness and efficiency to promote a more
sustainable world where everyone has the chance to reach their full
potential.
NEC is a registered trademark of NEC Corporation. All Rights
Reserved. Other product or service marks mentioned herein are the
trademarks of their respective owners. ©2024 NEC Corporation.
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Media Contact Robert Brownlie Bob Gold & Associates
310-320-2010 necx@bobgoldpr.com