Permia Sensing secures £250k Pre-Seed investment led by Jenson Funding Partners
Led by its unique acoustic sensor that monitors and analyses the health of palm trees, Permia Sensing aims to increase productivity on palm plantations
30 March 2023, London – Permia Sensing, the agricultural tech solution that’s transforming palm plantations with precision farming, has secured £250,000 in a pre-seed round led by early-stage focused venture capital firm Jenson Funding Partners. The funding will be used by the Imperial College spinout to continue its mission to change the way palm plantations are managed via the use of its monitoring technologies and robotics.
Palm plantations play a significant role in global agriculture as they produce oil, coconuts, and dates. Palm oil itself can be found in approximately 50 per cent of all packaged goods in the US alone, including cosmetics, clothing, furniture, and more. Palm is a more efficient crop than others as it requires the use of a fraction of the land that other crops utilise. For example, palm produces 40 per cent of total vegetable oil output while using only 6 per cent of the land. But due to factors such as lack of nutrients, drought or disease, palm plantations on average produce just half of their potential yield.
Permia Sensing was founded to solve this problem by creating solutions to increase productivity and transform palm farm practices with precision farming using AI and robotics. The first step towards accomplishing this is via the use of an acoustic sensor that was created at Imperial College. It was designed primarily to detect red palm weevil, a harmful pest for coconut palm trees that is known to damage an estimated 10 per cent of the coconut yield globally. The acoustic sensor, which has 97 per cent accuracy, also monitors tree health for the likes of nutrient and irrigation levels.
The sensor data can then be utilised alongside imagery and Permia Sensing’s AI-powered platform to help growers analyse tree-level data across an entire palm plantation and suggest ways to improve yields. The company is currently piloting its solutions in corporate plantations in Sri Lanka.
Palm oil has faced criticism from environmental groups due to it being a driver of deforestation of some of the world’s most biodiverse forests, but the company is helping to solve this problem. Along with its solution making palm farming more efficient, thus enabling the usage of less land, it also provides a less toxic approach to getting rid of pests such as the red palm weevil. With these sustainability and net-zero focused precision farming efforts, Permia Sensing is aligned with the UN’s Sustainable Development Goals.
Efrem de Paiva, CEO of Permia Sensing, says:
“Much research has shown us that we are not working palm plantations in the most effective way possible, particularly when we consider just how much palm is required for global use. With Permia’s technology, we hope to help farmers globally generate the most sustainable yield from the healthiest trees. By minimising some required input we can reduce CO2 emissions, not to mention the social impact of generating more income within the supply chain”
Sarah Barber, CEO of Jenson Funding Partners, adds:
“With palm being so prominent in products across the globe, it’s important farmers have access to tools required to generate the highest yield. Permia is a solution that is multifaceted, providing insights on resources and palm harvest, as well as data to support tree health, higher yields and environmental impact. This data is not only useful for farmers, but future palm plantations.”
ENDS
About Permia Sensing
Permia Sensing is a spinoff from Imperial College, London. The company’s mission is to sustainably increase palm plantations’ productivity by offering precision farming techniques supported by IoT, AI, Sensors, and Robotics. Permia’s technologies enable palm plantations to check on tree health, detect pests, forecast yield and automate harvesting. The team consists of individuals with hands-on experience in palm plantations, deep technical expertise and a proven track record in venture building.
About Jenson Funding Partners LLP
Jenson Funding Partners is the approachable startup investment firm specialising in working with founders throughout their early-stage growth – from pre-seed to Series A. Jenson have launched five SEIS and four EIS Funds and is now on its 14th tranche, invested more than £21 million in 125+ entrepreneurial UK businesses which have typically launched their product or service and are typically close to or post-revenue. In addition, Jenson has supported 28 companies with follow-on funding rounds. Jenson Funding Partners LLP is the Fund Manager of the Jenson SEIS and EIS Funds and is authorised by the UK Financial Conduct Authority (‘FCA’) and its FCA registration number is 820516.
https://jensonfundingpartners.com/
