Categories
Agriculture AgTech Bankruptcy

AgTech company TerrAvion files for bankruptcy

Robert Morris, founder and CEO of agricultural-imaging company TerrAvion Inc., sent customers an email saying the company was closed effective September 4, 2020. TerrAvion, started its journey in 2013, and offered farmers a high-tech view of their fields from above, including data about what’s working with a crop and what needs improvement.

“If you are a client, I strongly recommend downloading a copy of any data you have licensed and wish to retain immediately, as we do not know how long our infrastructure will remain active. I wish we could have given everyone more of a heads up, but we were working and hoping to avoid this until just hours ago.”

Robert Morris, founder and CEO, TerrAvion Inc.

TerrAvion was founded on three main insights:

  1. Imagery for people: First, imagery is really, really powerful for people doing operations outdoors. It changes the way organizations work, and lets leaders make their teams much more effective.
  2. Collect data: Second, anyone who can make use of imagery is busy enough that they would be a fool to collect their own, especially with drones, which are a pain to operate.
  3. The big picture: Finally, that what makes imagery useful isn’t so much the image itself, but everything that goes around it like price, speed of delivery, frequency of repetition, and who else can see the data.

Morris concluded his bankruptcy announcement with, “TerrAvion blazed a path that others can and will follow. We hope that the industry will invest more decisively in whoever comes next, as someone surely will.”

Read more at AgWeb.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s