Google Inc (NASDAQ:GOOGL) has taken the lead as an investor through its investor program, Google Inc, in a $15 million fund for the farmers business network.
The Farmers Business Network makes the use of big data to show both large-scale farmers and small-scale farmers how to optimize their production processes. Farmers Business Network was initiated by Charles Baron, who worked at Google as the head of geothermal projects and energy innovations.
The service allows farmers to post information as well as retrieving info on the platform. This information is important because it gives farmers the knowledge they need regarding produce and the best methods to increase the yields.
Baron came up with the idea after he visited his brother’s farm, and he realized that the farmer is an entrepreneur with multiple growth opportunities. Most of these farmers do not have access to information necessary to achieve this potential.
There is a lot of information necessary for farmer’s to achieve satisfactory results. Along with that, there are many other aspects that they have to consider. For instance, the technology involved in Agronomy and farm production. Farmers require info about how to run and maintain this technology.
There is new information cropping up every day from agricultural research finding. Technology, on the other hand, keeps evolving, and thus efficiency gets easier. So Baron’s idea allows this information to be consolidated and made available to farmers subscribed to this service.
Baron reported that the project had so far attracted the attention of many farmers, especially from the European region. The funds collected by Farmers Business Network will mostly be used carry out agricultural research. Speaking on behalf of the company, Andy Wheeler said that the input from Google Inc (NASDAQ:GOOGL) Ventures and others is a great opportunity to exploit resources.
So far, the company has received about $28 million collected from investors such as DBL investors, Byers, and Kleiner Perkins Caufield.
