Israeli farm management platform Fieldin has announced the completion of a $12 million Series A financing round led by Zeev Ventures and with the participation of Cavallo Ventures, AgFunder, and existing investors Germin8 Ventures, Gal Ventures and Terra Venture Partners.
With offices in Yokneam Illit in Israqel and Fresno, California, Fieldin helps specialty crop growers optimize all of their field operations. The new capital will be used to support the company's rapid growth: tripling its sales, grower support and technical teams in the US, and expanding its R&D team and precision agriculture product development efforts out of its engineering and data science headquarters in Israel.
Founded in 2013 by CEO Boaz Bachar and COO Iftach Birger, Fieldin's farm management platform enables visibility across an operation's complete range of field data (from tractors, machinery and other in-field sensors) in a single, user-friendly dashboard. This smart farm control center provides managers with actionable data that improves planning, manages risk and maximizes production across all operations and activities. From its smart spraying module, to its new smart harvesting app, Fieldin's smart tools have helped transform some of the world's largest growers into efficient, data-driven operations.
Bachar said, "With the backing and experience of some of the biggest names in Silicon Valley and commercial agriculture, this investment will allow us to put the pedal to the metal and ramp up our innovation and continue to lead the market in both adoption and results. This will allow us to get our data-driven tools in the hands of more growers and stakeholders throughout the supply chain, which will benefit everyone from the boots on the ground to the consumer, and all of the various partners they work with along the way. We look forward to seeing just how far we can take our technology."
Fieldin's latest round of funding follows 300% revenue growth since the beginning of the year and customer adoption in the fruit, nuts and vegetable markets.
"Fieldin is changing agriculture as we know it," Zeev said. "The Fieldin team has created a world-class platform that is already the go-to control center for commercial growers. I'm excited to help fuel their growth and be part of this technology revolution we're experiencing in agriculture."
Birger said, "It's been a big year for our company, covering more than 300,000 acres in California alone, and we're just getting started. We've been working tirelessly to launch new products before, after and even during the season for our growers. This harvest season, for example, we're pushing new updates to our platform nearly every day to ensure our growers can optimize every piece of the harvesting process. This investment will allow us to move quicker and provide our customers with the technology, ROI and service they've come to expect from the Fieldin team."
Published by Globes, Israel business news - en.globes.co.il - on September 5, 2019
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