Israeli robotic hive maker raises $80 million in private funding

JERUSALEM, March 30 (Reuters) – Beewise, an Israeli maker of robotic hives aimed at saving bees from climate change, said on Wednesday it had raised $80 million in a private funding round led by the private equity firm Insight Partners.

The round brings total funds to date to $120 million, he said, adding that the new funding will be used to meet growing demand for his robotic hives.

Beewise said its farming technology has saved more than 160 million bees in the past year. Air-conditioned and using automated harvesting, the robotic hives – hangars populated by bees and used by farmers – are powered by solar panels.

Artificial technologies (AI) can detect threats, such as pests and pesticides, to a bee colony.

He noted that pollination is crucial for life on the planet since 30% of the world’s food supply and more than 70% of vegetables, fruits, seeds and nuts are pollinated by bees.

Fortissimo Capital, Corner Ventures, lool ventures, Atooro Fund, brokerage firm Meitav Dash Investments Ltd and Sanad Abu Dhabi also participated in the financing round.

(This story refiles to correct company statement to remove reference to Menora Mivtachim as investor, paragraph 6)

Reporting by Steven Scheer Editing by Jeffrey Heller

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