BUCHAREST (Romania), June 7 (SeeNews) - Romanian integrated agribusiness tech startup Chromosome Dynamics [BVB: CHRD] announced it has partnered up with tech company AgriCloud to develop AI solutions for the agricultural field.
Chromosome Dynamics and AgriCloud are currently working on outlining several AI projects, with some of them scheduled for launch in the third quarter of this year, according to a statement released on Monday.
"We wish to approach - through our Machine Learning and Artificial Intelligence instruments - the most important aspects which stand in the way of responsible and successful agriculture," said Mugurel Ionel, Chromosome Dynamics founder.
AgriCloud is a startup founded in 2017 which specialises in providing IoT solutions for precision agriculture, primarily by means of monitoring solutions such as sensors, robots, or cameras. Based on data held by the finance ministry, AgriCloud recorded a net profit of 344,000 lei ($74,200/69,600 euro) in 2021, as well as a turnover of 590,000 lei.
Founded in 2020, Chromosome Dynamics implements AI-driven consulting and diagnosis applications, to help farmers swiftly identify means of preventing crop loss. The company also runs Agrobazar, an online marketplace for farming products, which launched in 2021.
Based on the latest data from the finance ministry, Chromosome Dynamics recorded a net profit of 976,000 lei in 2021, an increase over the previous year’s 17,000 lei. Its turnover rose to 4.6 million lei in 2021 from 972,000 lei in the previous year.
Chromosome Dynamics listed on the Bucharest Stock Exchange in May 2022 and expects a turnover of 11 million lei in 2022.
Its shares traded flat at 30 lei/share at 1030 CET on Tuesday, on the Bucharest Stock Exchange.
(1 euro = 4.9426 Romanian lei)