NEC X, the innovation accelerator from Silicon Valley, supported by the advanced technology portfolio of NEC, has announced its latest investment in Verdi Expeditions Inc., the pioneer in scalable farm automation and bespoke plant health care solutions
In addition to the financial commitment, NEC X will work in tandem with Verdi to further develop its technology and extend its reach geographically, while also supporting NEC’s CropScope initiative. This joint endeavor aims to advance irrigation methods on Portuguese farms in collaboration with Kagome Co., Ltd, and concurrently, CropScope will enhance Verdi’s farm automation technology and increase its support for agricultural production.
This partnership and collective effort are in line with the objectives of NEC X’s Elev X! programs, which aim to create strategic partnerships that bridge technological divides, foster innovation, and expedite the global adoption of pioneering startups.
Furthermore, this marks Verdi’s inclusion in the Elev X! Boost program, which offers startups poised for substantial growth a tailored mix of capital, strategic partnerships, and integration with NEC’s vast technological ecosystem.
Shintaro Matsumoto, president and CEO of NEC X, emphasised the necessity for innovative and sustainable agricultural infrastructure in light of the growing severity of weather conditions and global resource shortages. He reaffirmed NEC X’s commitment to this critical issue through the strategic investment in Verdi, whose cutting-edge solutions are expected to revolutionise farming practices. He is confident that Verdi will have a significant and lasting impact as part of the Elev X! Boost and the CropScope initiative.
Arthur Chen, CEO and Co-founder of Verdi, expressed that the strategic partnership, collaboration, and integration with NEC X are invaluable as they enhance their AI capabilities and expand their platform to new markets. With NEC’s global presence and deep industry knowledge, he believes they are well-positioned to become a global leader. He views NEC X’s support as more than just an investment; it is a partnership dedicated to the success of startups.
Established in 2020 by Canadian entrepreneurs Arthur Chen and Roman Kozak, Verdi is at the forefront of developing modern agricultural automation tools and addressing the scalability challenges that have historically impeded the widespread adoption of farm automation.
Verdi’s smart devices upgrade existing agricultural infrastructure, such as irrigation systems, into intelligent systems capable of AI-driven automation. This enables farmers to increase the productivity of crops and workforce while substantially lowering the costs of adopting new technologies. Verdi has also made a sustainable impact on its clients, which include some of the largest food brands globally, saving them over 30 million liters of water in 2023.
This recent investment aligns with NEC’s longstanding dedication to promoting sustainable and profitable farming practices. This commitment is exemplified by the development of the AI-powered agricultural ICT platform “CropScope,” and the formation of joint ventures like DXAS Agricultural Technology LDA with Kagome Co., Ltd.
With this investment, NEC X joins an esteemed group of investors in Verdi, including SVG Ventures, a key player in NEC X’s expanding partner network that provides startups with essential expertise, resources, and opportunities for growth. SVG Ventures played a pivotal role in introducing Verdi at the THRIVE accelerator demo day in Calgary, a highlight of Stampede 2023.
