Hummingbird Technologies raises £7m from Salic to fund recruitment and global expansion
Salic led the £7m funding round, valuing the British agritech company at £30m.
Share allotment filed at Companies House
Hummingbird Technologies provides drone, plane and satellite data analytics for precision agriculture using artificial intelligence.
British agritech firm Hummingbird Technologies has raised £7m in funding from Saudi Arabia's Salic. The investment values the London-based company at £30m and marks Salic's first venture in the UK market.
The fresh capital will be directed towards a recruitment campaign in the UK and broader international expansion. As part of the commercial arrangement, Hummingbird will deploy its technology across 400,000 hectares of Salic farmland located in Australia and Ukraine.
The deal stems from broader trade discussions between the UK and Saudi Arabia aimed at bolstering bilateral investment. Previous backers of the company include Downing Ventures, the European Space Agency and Beeswax Dyson.
From the founder
"As a machine learning business, our technology thrives on having more data to work with. Gaining access to Salic's portfolio gives us an unprecedented opportunity to hone our capabilities even further."
Will Wells
CEO at Hummingbird Technologies
Investor perspective
"We see Hummingbird as an attractive investment, from our global portfolio's point of view, and see it as a means of driving innovative best practice adoption across our global farmland operation."
Matthew Jansen
Head, Salic
Use of funds
- 01Grow the team
- 02Expand into international markets