By Kim Richters
Germany's BASF SE said Tuesday that its venture capital arm invested in crop analytics company Hummingbird Technologies.
The chemical company said it led the investment round together with TELUS Ventures, the venture capital arm of Canadian telecommunications company TELUS.
Saudi Arabia's Saudi Agricultural and Livestock Investment Company and British investment company Downing Ventures also participated in the financing round as "main investors," BASF said.
Hummingbird Technologies provides technology that can analyze agricultural fields, such as reviewing and processing image data to find out how much fertilizer an area will need.
The company didn't comment on the financial terms of the deal.
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