The start-up company CropX, a world leader in digital farm management solutions, recently added 4 strategic investors: NEC, Aliaxis, HELM AG and Proman. The new investors join a number of prominent funds that have invested in the company since its inception, including: Eric Schmidt’s Innovation Endeavors Fund, former CEO of Google, OurCrowd Finistere Ventures, and Greensoil Investments.
CropX’s new strategic investors specialize in precision agriculture and are partners in its technological and business world. NEC Corp. is a Japanese technology and communications giant that has developed, among other things, an IT and communications platform called CropScope for precision agriculture management and it has already successfully implemented the CropX platform in its projects.
HELM from the city of Hamburg, Germany, has developed a cloud service called SKYFLD that allows farmers to process agricultural plots more efficiently. Swiss Proman is one of the world’s largest manufacturers of ammonia for fertilization purposes. Aliaxis from Belgium is a world leader in irrigation infrastructure and solutions.
The addition of new investors took place against the background of accelerated growth of Cropax in the global market. The Israeli start-up offers a solution that combines software and hardware and provides data-based insights to farmers in more than 50 countries. Cropax’s product helps farmers grow crops with fewer resources: less water, less fertilizer, less chemicals, less energy and less manpower. Cropax’s system fully supports 75 different types of crops.
Tomer Tzach, CEO of CropX, said: “The new investors are deepening our geographical grip in the precision agriculture market and expanding our collaborations to other areas in which they specialize. The world today is facing an unprecedented shortage of crops and food products and we are now better prepared to meet the new needs of farmers striving to increase yields while saving resources. Our solutions are more vital today than ever for a world in food crisis. “
In addition to organic growth, CropX has acquired three start-ups in its past two years: Dacom Farm Intelligence, a leading European company that has developed a unique system for spraying and protecting agricultural crops from diseases and pests, CropMetrics from Nebraska, and ReGen from New Zealand. Following the acquisitions, Cropax currently has offices on 4 different continents. CropX currently employs 80 people worldwide: 30 in Israel, and 50 in Europe, Australia, Mexico and New Zealand. The company intends to recruit additional employees to support its growth challenges.
CropX has an extraordinary and first-of-its-kind collaboration with the US space agency NASA. As part of this, it provides NASA’s Agriculture Program (NASA Harvest) with soil data from its systems that will be provided to farmers and agricultural experts around the world that will improve field crops, conserve resources and strengthen land sustainability. Thus it is possible to predict areas in the drought where wider irrigation will be required, required changes in fertilization, expected decline in yield of certain crops and shortage in the global market, expected surpluses in other crops and more.
Source: Maariv.co.il – כלכלה בארץ by www.maariv.co.il.
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