AgTech co FieldIn raises $30m

Boaz Bachar and Iftach Birger Photo: PR

The company's operating system provides recommendations for supporting crop health and yields, improving sustainability, and boosting overall efficiency and profits.

American-Israeli AgTech startup FieldIn has announced the completion of a $30 million Series B financing round, led by Fortissimo Capital, with the participation of Zeev Ventures, ICON Accelerator, Luxembourg-based Maor Investments, and Akkadian ventures. Existing investors Terra Ventures, Gal Ventures, Germin8, and Mindset also joined the financing round to bring Fieldin’s total fundraising to $55 million. The funds will be used to scale up Fieldin’s agricultural operating system.

Fieldin’s agricultural operating system (AgOS) empowers commercial farmers to adapt to a rapidly changing environment, using real-time data and performance management tools to digitize operations. The AgOS leverages machine learning and AI to provide custom recommendations for the management of key work processes, supporting crop health and yields, improving sustainability, and boosting overall efficiency and profits.

The Fieldin platform evaluates and manages the entire growing cycle from planning to execution, including equipment, workers, materials, and more. Sensors are installed on tractors, machines, and farm implements (such as sprayers, harvesters, and mowers), turning all operational equipment into ‘smart’ machines. Data from operators and the field are transmitted in real time to the Fieldin platform for analysis. Aggregated data and dashboards create visibility and insight for key farm decision-makers, strengthening accountability, precision, practices, and results.

The company’s technology is already deployed in 5 of the 10 largest farms in California and supports more than 20% of global almond production. Major client Olam, one of the leading almond growers in the world, uses the platform to reinforce its sustainability programs and maximize productivity. Other Fieldin clients include Taylor Farms, which grows 30% of the lettuce consumed in the U.S., and California Olive Ranch. Fieldin delivers an estimated 25% improvement in farm productivity across its client portfolio.

Fieldin was founded in 2013 by Boaz Bachar (CEO) and Iftach Birger (COO), both of whom have a family background in Israeli agriculture. The company has operations in San Jose and Fresno, California, an R&D center in Yokneam, Israel, and an office in Mildura, Australia.

Bachar said, "Fieldin is reinventing agricultural management methods and digitizing operations from beginning to end. Our technology provides the entire ecosystem of farm stakeholders with customized tools to manage against operating constraints in real time. This is a game-changer for commercial farmers who want to thrive amid the complexities of the coming agricultural era."

He added, "We are starting to see the development of autonomous farm equipment - it’s an exciting milestone for the industry. Our AgOS easily interfaces with digital equipment and can both manage and disseminate the data produced by the coming wave of autonomous farm technologies."

Birger said, "Today’s growers are challenged by many factors, like chronic labor shortages, strict regulations, pests, unpredictable weather, water shortages, oil prices, and more. Fieldin is driving the strategic utilization of agricultural resources against these constraints, not only optimizing operations and reducing costs, but also making a positive global contribution through better food, higher yields, and environmental impact management."

Fortissimo Capital partner Yoav Hineman said, "The unprecedented challenges faced by commercial farming can be tackled not only by regulation but also through innovative companies that can move quickly to scale superior technologies. Fieldin is exactly that kind of company, and we chose to invest in order to help it spearhead the autonomous farming revolution."

Published by Globes, Israel business news - en.globes.co.il - on September 1, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Boaz Bachar and Iftach Birger Photo: PR
Boaz Bachar and Iftach Birger Photo: PR
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