Agri-tech startup The Yield will increase its staff from eight to about 25 after an investment by European conglomerate Bosch Group.
The announcement of the $2.5 million funding was made this week by Tasmanian Premier Will Hodgman.
“This is a major achievement for a Tasmanian startup and reinforces Tasmania’s potential to be a global leader, to generate new technology, and deliver highly skilled jobs,” Mr Hodgman said.
“The Yield uses sensors, data management and apps to create tools for farmers on land and sea, which result in improved productivity, reduced compliance costs and greater food shelf life.
“Already several Tasmanian farmers are reaping the benefits, with reports of waste reducing by 20 per cent, water costs by 25 per cent and chemical use dropping by as much as 50 per cent.”
The Yield, founded in 2014, is the first global AgTech investment by Bosch, which has a global revenue exceeding $100 billion.
