Israeli digital agronomic farm management company CropX today announced the completion of a $30 million Series C financing round led by Belgium advanced fluid management solutions company Aliaxis SA and with participation of Edaphon, Finistere Ventures, NTT Finance Corporation, OurCrowd, Reinke Irrigation, Yair Shamir, and Victrix.
The investment will be used to develop CropX’s innovative capabilities for its agronomic farm management system, and acquire companies with complementary technologies and market reach. Through this partnership, Aliaxis and CropX will continue to collaborate closely in the field of data-driven precision irrigation.
CropX’s irrigation planning allows users to conserve irrigation water and boost yields. In addition to irrigation, the CropX system also optimizes the use of energy and fertilizers, supports farmers in adopting more sustainable farming practices, and is becoming a one-stop-shop for crop management. CropX now has over 100 employees in the US, the Netherlands, Israel and New Zealand and a large research and development department.
CropX CEO Tomer Tzach said, "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. 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."
Published by Globes, Israel business news - en.globes.co.il - on April 19, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.