SupPlant (from website)
SupPlant, an Israeli agtech startup that develops sensors that can send signals from plants, extended its Series C funding round on Wednesday led by Red Dot Capital Partners, adding another $10,825,000 to its initial $27 million raise for a total of almost $38 million. This brings the total amount of investments raised by the company to date to more than $57 million.
Israel Startup Nation is big on agtech. For example, last September Taranis, an Israeli agtech startup that offers a crop intelligence platform, raised $40 million in a Series D funding round led by Inven Capital, a European climate tech fund. The round brought Taranis’ total funding raised to date to $100 million.
Also last year, CropX Technologies, Ltd., an Israeli agtech company, launched a new capability for its farm management system. The company says that this first-of-its-kind capability continuously tracks the movement of nitrogen and salts in the soil. CropX boasts that its solution is easier, less time-consuming and able to supply continuous monitoring of nitrogen leaching events than traditional methods of lab testing.
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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 scale 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.
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.
“We deeply appreciate the trust of our existing investors and welcome the new investors to a unique journey of enhancing global food security by providing farmers with the best tools to handle water scarcity,” said Ori Ben Ner, CEO of SupPlant. “We are strongly committed to our short and long-term business targets, and the new funds will help us translate plants to more farmers.”
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.
