More than 15% annual crop losses worldwide due to insect damage is driving a EUR 13 - 14 billion global insecticides market. Efficient insect pest control, which at the same time is environmentally sustainable is one of the biggest challenges facing farmers worldwide.
FaunaPhotonics monitoring solutions (sensors + software) enable farmers improve pest management practices, secure yields and reduce insecticide inputs. Knowing what is going on in the field will allow for better targeting of insecticide treatments. Our insect sensor technology will replace insect traps providing an automated approach to keep track of insect population trends field by field. Guidelines will be developed to assess the insect pest risk on a field level allowing for tailored insecticide treatments.
We are developing a new insect sensor solution (“Scout”) that will be launched in the market in 2020. The business model involves a hardware sale of an insect sensor to the customer including a data licensee subscription fee. Suggested price of hardware EUR 4.800 with a data licensee subscription fee of EUR 430 / year.
FaunaPhotonics helps farmers reduce insecticide use through improved insect monitoring. We offer validated and patent protected sensor tools to digitally map insect & pest populations to improve control efforts. Active patent strategy in place and technology proof of concept obtained with Bayer AG. Two development tracks in focus 1) sensor for scouting and 2) sensor for mobile device (tractor, robot). Business model centred on providing insect species data obtained by in-house developed sensor technology. Revenue by sensor sales and data subscription fees.
Actionable product development plan in place with oil seed rape as the go-to-market crop. Venture investment of EUR 4 million will open for ability to go commercial in 2020 and by mid-2020 go for a series B venture investment. Route to market paved through collaboration with strong partners and the farming community. Actionable growth market opportunities in Public Health and Aquaculture to be developed on full project sponsored basis with Tier 1 partners.
Raised EUR 3.2 million to date, built multiple sensors, completed four seasons of field tests. 10 team members including seasoned professionals trained in sensor development and scaling of companies. HQ in Denmark, a recognised leader in sustainable farming practices.