Israeli start-up SupPlant, leading precision agriculture hardware-software solution that aims to help farmers cope with climate change, has secured US$ 10 million in its recent funding round.
Investors: The funding round was co-led by Boresight Capital, Menomadin Foundation, Smart-Agro Fund, and Mivtah Shamir. The investment brought SupPlants’ total funding since the company was founded in 2012 to over $19 million.
Purpose of the Funding: SupPlant will use these funds to accelerate its sensorless irrigation system implementation in South Africa. Although its technology is widely used in Mexico, South Africa, Argentina, and Australia, it seeks to reach 500,000 farmers in Kenya by September 2021. By 2022, it will cover over 2 million smallholders in Africa and India.
About SupPlant
Founded in 2012 by Zohar Ben Ner, SupPlant’s vision is to integrate technology with every irrigation command given on earth. It offers low-cost irrigation solutions without the necessity of larger capital investments in hardware on the ground, allowing small growers to benefit from an adaptable irrigation strategy. Its technology seeks to confront the effects of global warming worldwide on small-scale farmers and is planned for the world’s 450 million small growers. Although its technology was initially a hardware-software solution, its new product will provide as much of the benefits of SupPlant’s autonomous irrigation technology as possible – without requiring the investments in infrastructure required by the full system.
What the CEO has to say: “The funds raised in this round will help us in setting the pace for implementation of our innovation- a fully sensor-less industry-defining irrigation regime. This idea is far unique from any ordinary practice available and is developed for the vast majority of farmers on earth – small farmers unable to gain and sustain access to hardware-intensive technology and exceptional knowledge. Strategic and disruptive agreements with global leaders are also underway. These associations will aid us in reaching millions of farmers in the future with this novel and untapped technology.”
What the Investors have to say: “In a world at risk to the destructive impacts of a changing climate, SupPlant’s solution is a concrete example of how technology can improve our world. Over a collection of essential crops and a broad range of geographies, from small farmers to large-scale food farmers— we invest in SupPlant because SupPlant helps farmers produce more, better food, sustainably.”- Jeffrey Swartz, Partner at Boresight Capital.
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