CropX
CropX Technologies, Ltd., an Israeli agtech startup, completed a $30 million Series C financing round led by Aliaxis SA, a firm enabling access to water and energy through inventive fluid management solutions. CropX said the funding will be used for the continued development of “innovative” capabilities for its agronomic farm management system, and the acquisition of companies with complementary technologies and market reach.
Founded in 2015, the company boasts that its CropX system is affordable, easy to install, and helps farmers sustainably increase crop yield and quality by significantly reducing water, fertilization and energy usage and costs while minimizing runoff and waterway pollution. CropX has demonstrated over 40% water savings across different crop types and measured yield increases over 10%.
The US Department of Agriculture says that nitrogen is usually the most limiting crop nutrient. Nitrogen is added to soil naturally from N fixation by soil bacteria and legumes and through atmospheric deposition in rainfall. Additional N is typically supplied to the crop by fertilizers, manure, or other organic materials. Nitrogen is needed in agriculture, but too much is a problem and every crop is different, so farmers need to measure its amount to ensure that each crop gets the right amount of it.
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“Completing this funding is a huge endorsement from our investors of the value that we bring to our customers and shareholders, and the positive impact we are making on farms around the world,” said CropX CEO Tomer Tzach. “This round follows CropX’s January acquisition of California-based precision irrigation company Tule Technologies, our fourth acquisition. We are proud to be one of the consolidation leaders in ag-tech as we bring a complete, powerful and simple solution to farms and agribusinesses.”
In 2021, DotX acquired Dutch platform Dacom Farm Intelligence, which provides solutions for spray management and plant protection.
