Non-toxic insect control developer EdenShield has closed an investment round of just over $1 million, led by OurCrowd. EdenShield is a portfolio company of The Trendlines Group's Trendlines Agtech.
EdenShield's nontoxic technology for insect control is based on extracts of medicinal plants endemic to Israel's semi-desert. Leveraging the beneficial characteristics of desert plants, the product masks the odor of the crop and lowers insect attraction, causing the insects to simply pursue feeding options elsewhere. The company, now in commercial stage, will use the funds to expand operations, establish a distribution network, and expand its staff.
Pests cause damage of more than $2 billion annually, by direct damage to crops or through the transmission of devastating viruses. Conventional chemical pesticides are ineffective, as insects quickly develop resistance, even in a single growing season. The EdenShield material sustains its efficacy throughout the entire growing season of the crop, and insects do not develop resistance to it. A natural material, the EdenShield product can be used close to harvest, without health risks associated with conventional pesticides.
EdenShield's first product (NET) is applied to greenhouse screens, while its second product (DIRECT) is applied directly to greenhouses flowers and medical cannabis. Tests demonstrated that EdenShield's product lowers greenhouse penetration of thrips, whiteflies, red spider mites, and tuta absoluta by over 90%.
edenShield CEO Yaniv Kitron, CEO said, "We are delighted with the completion of the financing round and the support of OurCrowd, which will enable us to commercialize our products and to respond to the great interest we are getting from farmers and partners."
OurCrowd general partner Elan Zivotofsky said, "We are excited about our investment in EdenShield because of their unique 'green' value proposition and disruptive technology that addresses a major pain point in farming, globally."
Published by Globes [online], Israel business news - www.globes-online.com - on January 6, 2015
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