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Google parent Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) is licensing some technology from its agriculture startup Mineral to berry producer Driscoll’s Inc as it winds down the developing firm’s operations.
Mineral, one of the most prominent companies to emerge from Alphabet’s moonshot technology lab, X, has struggled to find a sound business model in an industry with fierce competition and slim profit margins, Bloomberg reports.
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Last year, Mineral became an independent subsidiary of Alphabet but failed to secure its footing in the market.
Mineral uses cameras and machine learning to help farmers make better decisions.
Driscoll’s agreed to license the technology, and more deals are being negotiated with other industry partners. The technology aids Driscoll’s in predicting crop yields, allowing for more accurate forecasts to buyers and labor partners.
Mineral’s development included adapting its technology beyond strawberries to other crops like soybeans, melons, and potentially taller plants such as corn. Driscoll’s and Mineral were also working on applying the technology to raspberries, requiring both hardware and software modifications.
Price Action: GOOGL shares traded higher by 0.01% at $185.25 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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