Carrot Ventures launches remote monitoring and intelligence platform for potato storage management
June 6, 2023 By Potatoes in Canada
Carrot Ventures has unveiled Cellar Insights, the second company emerging from Carrot’s AgTech company formation model.
“We’re extremely pleased to be launching Cellar Insights,” says Martin Vetter, a venture partner with Carrot. “Reducing food loss and optimizing the quality of crops post-harvest is an issue of worldwide importance. Potatoes are the world’s third most important food crop, produced in over 100 countries. It is an essential and nutritious food staple, which has led to soaring cultivation rates in India and China. In North America, production value exceeds $4 billion annually, with retail sales approaching $14 billion. Unfortunately, potatoes and other root crops, such as carrots and onions, experience significant losses during storage. Effective storage management practices are vital, and we believe Cellar Insights offers a compelling solution.”
Cellar Insights is a Canadian AgTech startup built around a sophisticated suite of sensors and cloud-based algorithms that remotely monitor potato health in long-term storage. The solution includes predictive models and offers management insights to optimize returns.
Millions of potatoes get stored for up to 11 months in massive climate-controlled facilities. During such long storage periods, farmers face an escalating risk of loss due to shrinkage, reductions in quality, disease, sprouting or spoilage.
Potato storage practices vary widely in levels of sophistication globally, and losses can be as high as 10 to 25 per cent. Cellar Insights aims to offer farmers a reliable tool for remotely monitoring and managing the health and value of their stored root crops.
Terry Sydoryk, who has assumed the role of founder and CEO, will lead the Cellar Insights venture.
“Leading Cellar Insights is an exciting opportunity for me,” says Sydoryk. “Starting out with a vetted technology, a global market opportunity and a committed lead investor is very compelling. The Carrot investment model and their involvement will accelerate our path to market considerably.”
Sydoryk has more than 30 years of leadership experience in the technology industry, with 20 years focused on company creation and early-stage company growth.
Cellar Insights will commence its path to commercialization immediately, including recruiting farmers and potato processors to participate in field trials this year.
Visit carrotventures.com/client_portfolio/cellar-insights for more information.
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