Budapest-based Scoutlabs, formerly known as Smapp Lab with Hungarian roots, has secured an initial investment of $2 million. Czech-based DEPO Ventures (which backed Flowpay and Talsec) invested in this round alongside foreign investors Interactive Venture Partners (IVP), SVG Thrive, and US-based Impact Ventures.
Given that one of the largest US investors has contributed to this round, it will help the company scale its solutions into the American market.
“Scoutlabs has the ambition to become a global player, as evidenced by the investment coming from the U.S. Investor Impact being one of the largest landowners in the U.S., can significantly aid in scaling into the American market. The long-term potential of Scoutlabs lies not only in the product itself but also in the possibilities of data monetization, upselling, and targeting new markets,” says Jan Krahulík, an investor at DEPO Ventures.
What challenge does it address?
Each year, insects destroy enough food to feed 1 billion people, while 99% of sprayed crop protection products prove ineffective. With the exacerbating effects of climate change, these problems have become even more severe. Scoutlabs comes as a solution to this challenge as it offers data-driven sustainable pest control.
What does Scoutlabs do?
As farmers and co-founders of Scoutlabs, Jimmy Fong and Donat Posta are on a mission to make digital insect monitoring affordable for millions of farmers. It is developing the densest digital trap network to precisely track insect migration and swarming, enabling farmers to combat pests more sustainably and effectively.
The company envisions building a field-level data-based co-pilot that transforms guesswork into data-driven decisions, making agriculture exciting and sustainable for the next generation of farmers. This is beneficial for the farmer, the planet, and food security.
Its affordable and scalable to leverage science and AI to identify pest insects eating your valuable crop yield.
What do we think about Scoutlabs?
The agritech is addressing a critical agricultural challenge by offering data-driven, sustainable pest control. Its innovative digital trap network and AI technology enable precise insect tracking, improving pest management efficiency. With strong investment backing and a mission to transform agriculture, this startup is poised to become a global leader, benefiting farmers, the environment, and food security.
