Israeli Agtech Company Raises Funds to Boost Advancement of Irrigation System2 min read
SupPlant is a developer of advanced agricultural hardware-software solutions and leads the markets with its innovations. It made an announcement on Sunday, revealing that it has managed to raise a figure of $10 million to improve and further innovate its popular sensor-less irrigation API product.
The financing round was led by a handful of investors, such as Menomadin Foundation, Mivtah Shamir, Boresight Capital, as well as Smart-Agro Fund. The total funding of the Israeli Agtech company is now at a figure of over $19 million.
The technology of SupPlant was only a hardware-software solution, up until now. Just recently, it experienced an increase in its growth, which is now standing at 1200%. The various products of the company are extensively used in various locations across the globe, such as Australia, South Africa, Mexico, and Argentina.
With the development of their new product, SupPlant will move towards providing its clients with the various benefits of its autonomous irrigation technology, with as much ease as possible. In addition, it will not require any investments to be made in the infrastructure, which are needed by the full system.
The technology of the Israeli Agtech company has been designed for the 450 million small growers, all over the world. It was further estimated by SupPlant that 76% of farmers are growing their crops on land that is not even 2 hectares in size. By September of 2021, the sensor-less technology will be brought to Kenya by allowing access to more than 500,000 farmers there.
By the year 2022, in addition, the Agtech company aims that more than 2 million smallholders in India and Africa will be implementing this technology to the full.
The CEO of SupPlant, Ori Ben Ner, went on to say that the funds raised from the financing round will be used to speed up the process of the complete development of the sensor-less irrigation system. According to him, it will revolutionize the entire industry, as the new technology is superior when compared to any available common practice. He added that it was developed specifically for a large chunk of farmers across the globe, namely smallholders, who do not have or cannot afford to access unique knowledge and hardware intense technology.
The CEO further revealed that the Israeli Agtech corporation has entered into strategic agreements with leaders across the globe to allow SupPlant’s sensor-less irrigation system to reach numerous farmers in this year and the next year. He added that the company cannot wait to see the new technology being implemented.
SupPlant utilizes artificial intelligence, cloud-based technology, and agronomic algorithms to find out the stress of the plant, as well as to monitor the water content. It also analyses the fruit and plant growth patterns. The data collected is then combined with forecasted and real-time climatic data, along with projected patterns for plant growth. After every 10 minutes, all this information is uploaded to an algorithm present in the cloud, which comes up with irrigation advice for the farmers.