IntelinAir Inc., an agricultural tech startup that recently moved its headquarters to Indianapolis, has landed $20 million in outside funding to fuel its continued growth, the company announced Friday.
The series B funding was led by St. Louis-based Regulator Group LLC, New York City-based Scientia Ventures, Chicago-based Takiff LLC, Canada-based SDMC Ag Inc. and various senior executives in the ag and artificial intelligence industries.
The company said it has raised money before, but this represents its largest round of funding to date.
“It is an honor to have great investors and great veteran ag industry leaders join our Series B investment round to help us accelerate our growth and allow us to deliver our services to a large number of additional farmers, ag retailers and other ag industry players,” IntelinAir cofounder and CEO Al Eisaian said in a written statement.
IntelinAir uses artificial intelligence and machine learning to analyze high-resolution aerial, satellite, and drone imagery; equipment; weather and other data that can help farmers maximize crop performance and anticipate potential problems. The company’s flagship platform is called AGMRI.
The company’s customers include retailers and growers/farmers, mostly in Indiana and Illinois, who use IntelinAir to cover nearly 5 million acres total. IntelinAir said it expects to double that acreage next year, with revenue growth to match.
“We have been incredibly impressed by Intelinair in its use of AI to lead the ag intelligence revolution,” Regulator Group Managing Member Bill Wisalowski said in written remarks. “Not only does Intelinair provide vital agronomical insights to growers, a $15 billion opportunity, but it also identifies actionable opportunities and provides tools to facilitate the decarbonization of the planet and drive sustainability and efficiency of food supplies, a global imperative. We are excited to lead the Series B round and support Intelinair through the next stage of the company’s evolution.”
Founded in 2015, the company was previously based in Champaign, Illinois. It moved its headquarters to Indianapolis in August when it opened an office at 9510 N. Meridian St. to be closer to its customer base, join the city’s tech industry and tap into the area’s base of ag tech talent.
The company is in hiring mode and expects to have 35 employees around the U.S. by year’s end, including 15 in Indianapolis.