The Bosch Group has invested an additional $2.5 million in Tasmanian AgTech business, The Yield.
The partnership brings together the global sensor manufacturer with one of Australia’s newest and most innovative Internet of Things technology companies.
The Yield uses sensors, data management and user-friendly apps to create novel tools for the agriculture and aquaculture industries.
The technology enables solutions such as improving on-farm productivity, reducing the cost of compliance with food safety standards, increasing shelf life in the food supply chain, and better risk management for financial services in the food industry.
The investment was announced yesterday by Tasmanian Premier, Will Hodgman.
“This deal reflects the great potential of not just The Yield, but the potential of Tasmania to generate new technology, highly-skilled jobs and investment,” said Hodgman.
“Tasmanian farmers will be the first to access The Yield’s products, giving them an enormous edge in a very competitive market.”
Gavin Smith, Bosch Regional President with responsibility for Oceania is in Hobart for the announcement and last week led a delegation of Bosch executives that toured Tasmania’s agriculture industry.
“The Yield’s is a leader in developing customer focused solutions that bring together the power of the Internet of Things in agriculture. We will work with The Yield to scale their technology globally,” he said.
The Yield founder and CEO, Ros Harvey, said the investment would support growth of the company, including more skilled jobs.
“We are experiencing a strong demand for our technology. This investment allows us to bring forward our agriculture solutions including the development of our microclimate sensing system giving growers unprecedented insight into their local growing conditions,” said Harvey.
“Investment from a globally recognised brand like Bosch will be a big help to accelerate development and get our products into the hands of growers around the world.”