Aramco Backs Climate-Tech Startup to Improve Water-Resilient Rice Farming
Saudi Aramco's venture arm has invested $9.5 million in Mitti Labs, a climate-tech startup that uses satellite imagery and AI to help Asian rice farmers reduce water use and methane emissions. The funding will aid Mitti Labs' expansion across Asia, where rice is a staple food for over half the world's population.
Key points
- Saudi Aramco's venture arm, Aramco Ventures, led a $9.5 million investment in Mitti Labs, a climate-tech startup.
- Mitti Labs uses satellite imagery, AI, and field operations to help Asian rice farmers cut water use and methane emissions.
- The startup has raised $12.5 million, including a $3 million seed round in July 2024.
- Rice is one of the most water-intensive crops to grow, with rice fields accounting for significant agricultural methane emissions.
- Mitti Labs' GeoAI platform creates digital twins of individual rice fields to monitor crop conditions, water use, and methane emissions.
Saudi Aramco Backs Climate-Tech Startup to Improve Water-Resilient Rice Farming
Saudi Aramco's venture arm has invested $9.5 million in Mitti Labs, a climate-tech startup that uses satellite imagery and AI to help Asian rice farmers reduce water use and methane emissions.
Background
Rice is a staple food for over half the world's population, but its production is heavily water-intensive. Rice fields kept under continuous flooding account for a significant share of agricultural methane emissions. In response, climate-tech startups like Mitti Labs are developing innovative solutions to tackle these challenges.
Mitti Labs' Technology
Mitti Labs' GeoAI platform uses synthetic aperture radar (SAR) imagery to create digital twins of individual rice fields. This allows the startup to monitor crop conditions, water use, and methane emissions across thousands of smallholder farms. The average holding size is about one hectare, making it crucial to develop targeted solutions for these farmers.
Impact
The investment will aid Mitti Labs' expansion across Asia, where rice is a critical crop. By reducing water use and methane emissions, the startup aims to make rice farming more water-resilient and environmentally sustainable. This is a significant step towards addressing the challenges posed by climate change in the region.
Future Outlook
With the latest funding, Mitti Labs has now raised $12.5 million, including a $3 million seed round in July 2024. The startup is poised to continue its growth and development, leveraging its technology to create a more sustainable future for rice farming in Asia.
Sources
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