Satelligence raises investment to transform global commodity supply chains and eradicate deforestation
(23 November 2020 - Satelligence) Agritech company Satelligence has raised $2.3 million from Dutch tech and impact investor 4impact and the European Commission’s Horizon 2020 programme to enable more clients to improve their mitigation of environmental and social risk in agricultural commodity production.
Satelligence leverages insights based on satellite and supply chain asset data, machine learning and human intelligence.
Tackling the climate and biodiversity crises is now a top priority for corporations and financial institutions in the food and agribusiness. Consumers increasingly demand assurance that the products they buy are not associated with environmental damage and social conflict. The global economic damage of biodiversity loss is estimated at between USD 2-4.5 trillion per year, presenting both a risk and an opportunity for the sector.
Until recently, food and agribusiness players and investors alike lacked the tools and data to assess and report on progress towards reducing deforestation, vegetation fires and other forms of ecosystem degradation. Satelligence offers more accurate, granular visibility over their supply chains to identify those environmental risks and opportunities and take meaningful action. Its tech monitors land cover changes like deforestation and fire impact using satellite imagery and artificial intelligence, analysed within the context of the most complete and up to date supply chain asset information. This includes millions of farms and plantation concessions, mills and silos, ownership, group structure and supplier linkages.
Rapid warnings and science-based information, delivered via web app, data feedz or custom reports, identify risky suppliers while reducing the need for ground checks, leading to better engagement and responsible sourcing strategies, contracts and investments.
“4impact’s team brings outstanding expertise and guidance on solutions for the financial sector to our business”, said Niels Wielaard, founder and CEO of Satelligence. “We achieved very strong growth to date based on market demand. Building on our strong partnerships, we aim to service new commodities and markets and cover more risks beyond deforestation and vegetation fires, enabling clients to be first to know and first to act on risk and performance issues. We look forward to working with 4impact to achieve our mission of helping to make sustainable agriculture mainstream.”
Ali Najafbagy, 4impact Managing Partner: “We are incredibly impressed with the team’s deep domain expertise, which they have translated into an easy to use software solution that fits the global corporates’ transparency needs. Restoring biodiversity is key to the Earth’s stability and providing stakeholders with the relevant data to act is critical to achieving success.” Satelligence’s solutions contribute to three of the United Nations Sustainable Development Goals: Responsible consumption and production, Climate action, and Life on land.
Satelligence received investment through strategic financing contracts from the European Commission’s Horizon 2020 programme, further strengthening the development and implementation of risk forecasting and carbon accounting methods.
Satelligence is a leading satellite-powered geodata analytics company providing daily insights into the global performance of agricultural production and supply chain risks, such as deforestation, forest fires and flooding. We help customers including Mondelez, Unilever, Bunge, WorldBank, Rabobank, Robeco, World Wildlife Fund, and the Ministry of Foreign Affairs of the Netherlands demonstrate progress towards zero deforestation, and make the right sourcing and investment decisions. Commodities covered include palm oil, cocoa, soy, rubber, beef, pulp and paper, biomass among others. Satelligence operates from offices in Indonesia, Ghana, Bolivia, and The Netherlands.
4impact is a leading Dutch tech and impact investment fund founded by former Goldman Sachs colleagues Ali Najafbagy and Pauline Wink-Zaanen. It focuses on technology-driven companies providing global solutions with societal and sustainable impact and financial return. 4impact targets three impact investment areas: inclusion, health & well-being, and environment.