SupPlant (from website)
Israeli agtech startup SupPlant has raised $27 million in a new financing round, led by Red Dot Capital Partners. This brings the total amount in investments raised by the company to date to more than $46 million.
Founded in 2012, SupPlant says that by changing the basic concept of irrigation methods, and based on plants’ current necessities, its unique technology is proven to save water on global scales while improving productivity and yields. The system uses an advanced algorithm that analyzes live data from plants, soil, and meteorology sensors, and translates it into irrigation recommendations and actionable insights.
In the fall of 2021, SupPlant teamed with PlantVillage, a Penn State University initiative, to reach 500,000 smallholder maize farmers, the majority of whom are women in Bungoma and Busia.
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These farmers are small but have a significant share of the approximately half a billion farmers globally who farm on less than two hectares.
SupPlant has developed sensor-free irrigation suggestions. A system that is extremely low-cost weather forecasts and crop stress alarms, in addition to AI-enabled agronomic counseling, to help smallholder farmers become more resilient to climate change and avoid crop failure.
Unfortunately, plants are sensitive; even brief periods of high stress can result in the death of a whole harvest.
SupPlant CEO Ori Ben Ner said, “The funds raised in this round will allow us to invest in our new markets and open other markets as well. We also plan to continue to develop our sensor-less API product in order to help 98% of the farmers in the world fight climate change.”
“The ability to make decisions based on seasonality of the weather is literally getting lost — that’s where we come in. By sensing the plant we can identify exactly what it needs regardless of the season,” add the SupPlant CEO.
