“Entrepreneurship is perhaps the only way to combine what I do best with what I enjoy doing most.”

Hello Yosef. And congrats for the financing round! How was the idea behind Gamaya born?
The core technology behind Gamaya was developed as part of a sequence of ambitious international environmental research projects that involved a number of laboratories at EPFL, as well as research institutes in Russia and France, and sponsored by the prominent explorer and philanthropist Dr. Frederik Paulsen. Together with my co-founder Dragos Constantin, I have spent the last few years developing hyperspectral imaging instruments and analytical software with the aim of enabling better understanding of our environment and the environmental impact of human activities in particular. You may find more information on our research on the following page http://www.elemo.ch/ulmor watch the video below:
 

The “Leman-Baikal” project, a multi-year Swiss-Russian initiative to study and preserve freshwater resources using ultralight aircraft with cutting-edge hyperspectral imaging technology.
 
Why did you decide to embrace the entrepreneurial path?
The tremendous potential of the newly developed technology and its applications across multiple domains have quickly become clear to us. The only way to realise this potential was to bite the bullet and turn it into a commercial venture. For me, entrepreneurship is perhaps the only way to combine what I do best with what I enjoy doing most.
 
You just raised CHF 3.2 million Series A to develop your novel hyperspectral imaging technology. Tell us a little bit about how you experienced the process of raising your first substantial funds.
We’ve been extremely lucky to get noticed by some prominent investors very early on, in fact well before the company was even created. We received seed funding from angel investors as well as Venture Kick who have given us tremendous support and trusted in our potential. To some extent it was a “beginner’s luck” and for a while we thought that we would leapfrog all the hurdles and pains that many of our peer startups are going through. Then the reality kicked in and we realised that nothing comes easy. If something looks too good to be true, it probably is! In the end it was a marathon of ups and downs. We had to bootstrap and soldier on to prove our capabilities and earn the trust of investors.
 
Can I ask you how will the money that you have just raised be used?
The current investment will be used for the consolidation and the validation of our product for the Brazilian market. In particular, we will carry out a series of commercial pilots with large prospective clients in Brazil. This is a critical phase that will facilitate large scale deployment of our crop analytics services in this key market.
 
What is your vision for your company? And the next steps?
We would like to become a key player and a knowledge hub in the emerging smart agriculture industry. Today, we have a unique technology and are well positioned to build the analytical platform that would empower farmers with unprecedented level of understanding of their land and crops. This is a rapidly emerging market with some very strong organisations starting to take notice of what we are doing. So, the challenge of building the necessary momentum, while staying true to our vision will be enormous.
 
Your high resolution cameras are already in use in Europe, Russia and Brazil. Can you tell us a little bit more about the world market potential for Gamaya?
In fact the camera itself is only one, albeit an important component of our technology. Gamaya’s core business is to provide advanced crop analytics services to large industrial growers. Our current partners and clients include several academic institutions, but the future of Gamaya is in B2B services. Agriculture is a multi-trillion dollar global industry that is in urgent need of technological innovation and transformation towards sustainability. The specific market for analytics of farmland for precision agriculture is estimated at USD20 billion per year, in the next 10 years.
 
Who are your main competitors, and what is your customer-type?
Agricultural technology (AgTech) is a rapidly emerging field that is teeming with ideas and innovation. In the recent year or two, it has become the fastest growing sector for venture investments. The vast majority of this activity is based in the US. Some major startups such as Mavrx, PrecisionHawk and Airinov have received considerable funding and have gathered significant momentum in our domain. Nevertheless, the market is still very young and is largely pre-competitive. Gamaya has unique technology and knowhow, and we are confident in our ability to become a major player in this space.
 
Our target customers in this stage are large industrial producers that are technologically savvy and are aware of the potential benefits of smart farming. We were lucky to find our ideal customer profile in Brazil and we are working very hard to make sure that we will be able to deliver the results. 

“The astute feedback received at Venture Kick was the first clear signal that I was on the right track, and this literally kick-started the project.” 

Among many prizes and recognitions, Gamaya is a 2014 Venture Kick startup. Can you tell us more about your experience with our program? What did it bring to you and would you recommend it to other entrepreneurs like you?
Venture Kick played a pivotal role in the development of our startup. I can consider my first pitch to the Venture Kick jury – that I have done with minimum planning and zero entrepreneurial experience – as the birthday of Gamaya. The astute feedback received at Venture Kick was the first clear signal that I was on the right track, and this literally kick-started the project. Since the first pitch and through the multiple kickers camps, we have benefitted from the continuous support of Jordi Montserrat and his team, and had access to his advice on numerous occasions including some key strategic issues. In addition, the Venture Kick program exposed us to the local startup ecosystem and helped us connect to the prominent Business Angels and advisors, including Dave Brown, Colin Turner, Gal Messinger and Francois Stieger, who have provided and continue to provide essential advice and support for our venture.
 
You actually came into the TOP100 ranking for the first time in 2015, at position Nr. 20 (and at position Nr. 3 in the TOP5 newcomers’ list). Did the prize help Gamaya in any way?
The TOP100 ranking is a sign of recognition that we are very proud of. It means that we are doing at least some things right. It brings publicity and attention which is certainly important. At the same time we are keeping our feet on the ground. We don’t have a proven business yet in contrast to the many wonderful teams on and off the TOP100 list. We have a great momentum right now, but the real challenge will be to sustain it over time and turn it into value for both our clients and shareholders.
 
You traveled to Silicon Valley in 2015 with the Swisscom StartUp Challenge. What did you bring back from the US? Is it a potential market for Gamaya?
I think the exposure to Silicon Valley’s ecosystem is important for any aspiring entrepreneur. Particularly if they embark on building an international business. Of course, you can just hop on the plane and go explore. But the remarkable amount of effort, resources and support that you get from the venturelab and Swisscom teams gets you to an entirely different level. With their help, we have been able to meet people and explore opportunities we couldn’t have dreamt of otherwise. We are deeply grateful to Beat Schillig, Penny Schiffer and their respective teams for all the hard work and great support.
 
The biggest take away for me was the focus on execution and scalability, the “nail it, then scale it” approach. Coming from a scientific background, it can be a little disheartening how minor a role is played by the novel technology in comparison to the crucial importance of building a reliable product that somebody really wants (or ideally needs), and then figuring out a simple, inexpensive method to deploy this product on a massive scale. Of course this is not the only way you can build a business, but this is the Silicon Valley formula. Brazil is our immediate “nail it” target market, but the US certainly is on our radar!
 
About Gamaya
Gamaya responds to the need to feed 10bn people by providing a unique solution to boost the efficiency of industrial agricultural production. The startup utilises a unique constellation of patented hyper spectral imaging technology, drone-based deployment and artificial intelligence to empower industrial farming businesses with unprecedented level of situational awareness, allowing for significant cost savings, as well as improvement of quality and quantity of yield. Examples of the information products include early alerts for disease, pests and weeds, optimum rates of application for fertilisers, as well as prediction of yield. Currently, Gamaya provides a solution for soybean, corn and sugarcane growers.
 
A winner of many prizes
Gamaya has been featured by Forbes as one of the 4 European AgTech startups with a potential to become a $1 billion dollar company. Gamaya is a 2014 Venture Kick startup and the winner of the 2015 Swisscom StartUp Challenge, where it had the chance to find more international partners and investors in Silicon Valley. Gamaya scored other prestigious startup prizes as well, such as the rank 20 in the actual TOP100 Best Swiss Startups, as a newcomer. Gamaya won additional prizes in 2015 such as the Swiss Product Excellence Award and the »venture» competition, and it is the winner of the 2016 de Vigier Prize.