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Intel Capital invests $62m in agtech

The tech giant has invested an undisclosed amount into PrecisionHawk, a drone maker, from its latest $62 million tech investment pool.

Intel Capital, the investment arm of the computer technology company, has invested an undisclosed amount in PrecisionHawk, an drone maker.

PrecisionHawk’s drones are used by farmers in crop data collection and in other industries such as forestry, and oil and gas.

The investment was made from Intel’s most recent technology investment pool which amounts to $62 million.

Intel Capital is aiming to invest $355 million into innovative technology firms by the end of the year.

PrecisionHawk raised $10 million in a series B round led by Millenium Technology Venture Partners, a New York-based venture capital firm, in September this year.

In other agtech news, WISErg, an organic fertiliser company, has added an additional $900,000 to the $5 million raised in June. Investors remain unidentified in both fundraisings. The company is targeting $9 million before it closes its series B round. The company will use the funds to install its trademarked ‘Harvester’ technology at commercial waste generation points. The Harvester technology breaks down waste into material for fertiliser.

WISErg currently operates its technology at Whole Foods outlets and other commercial entities in the Pacific Northwest region of the US.