CropX, a San Francisco, CA- and Tel Aviv, Israel-based provider of an advanced adaptive irrigation service, completed the first close of its $9m Series A financing.
The round was led by Finistere Ventures, Innovation Endeavors, and GreenSoil Investments, each investor in the Series A round with participation from OurCrowd.
The company intends to use the capital to expand the team, scale operations, fund new product development including controls in nutrition, plant protection, and planting and harvesting prediction.
Led by CEO Isaac Bentwich, CropX uses advances in the Internet of Things (IoT) and big data to automatically analyze the exact water needs of different parts of each field based on topography, soil structure, and current moisture. Farmers download the mobile app and place three wireless sensors in the ground. These sensors continuously send soil readings to the cloud, where the patent-pending CropX software determines how to effectively irrigate different parts of the field based on pattern-recognition analysis and algorithms.
FinSMEs
22/06/2015