SeeTree’s Sequence B funding spherical is likely one of the largest for an Israeli Agtech firm, which is already working in Brazil, the US, South Africa and Chile
FRESNO, Calif. – Dec. eight, 2020 – SeeTree, an AI-powered, end-to-end service that gives growers with intelligence on bushes and tree clusters, introduced at the moment that it has raised $30 million in a Sequence B funding spherical led by the Worldwide Finance Company (IFC), the personal sector arm of the World Financial institution Group. This third spherical of funding, one of many largest funding rounds for an Israeli Agtech firm, will permit SeeTree to scale globally, develop the R&D and customer-facing groups and broaden providers to cowl new crops.
Different traders embrace Citrosuco, one of many world’s largest orange juice producers with gross sales to greater than 100 nations; Orbia Ventures, company VC of Orbia, a worldwide supplier of modern options for fast urbanization and water and meals shortage that owns Netafim, the main drip irrigation system on the earth; and Kubota, a Japanese producer specializing in tractor and agricultural gear. Present investor Hanaco Ventures, a number one Tel Aviv and New York-based VC who led the Sequence A spherical, is collaborating as properly.
“All of our new traders are true companions who imagine within the energy of our platform to extend productiveness and assist tackle the affect of the local weather and different main challenges in agricultural manufacturing at the moment and going ahead to the long run,” mentioned Israel Talpaz, SeeTree co-founder and CEO.
“Synthetic intelligence can revolutionize agriculture and have a transformative affect on productiveness, the surroundings and the livelihoods of farmers,” mentioned Stephanie von Friedeburg, interim managing director and govt vp and chief working officer of IFC. “We’re excited to put money into SeeTree´s know-how and assist leverage precision agriculture in rising markets.”
With operations in Brazil, the US, Chile and South Africa and a staff of 120 professionals, SeeTree screens over 50 million bushes all over the world, which can develop to 1 billion bushes by 2023.
“We began with citrus and are servicing the biggest citrus growers globally. We have now a powerful playbook and can proceed scaling inside citrus. We are actually equally centered on rising our choices into new crops resembling almonds, olives and hazelnuts, the place we’re already deployed and supporting farmers,” mentioned Talpaz.
SeeTree’s system identifies the well being and progress charges of each tree in a farmer’s grove and permits the creation of personalised cultivation plans for every tree or cluster of bushes. SeeTree collects extremely excessive decision photographs captured by drones and multi-spectral sensors, tree and soil samples and analyzes the information via the platform’s machine studying algorithms. Finally, farmers obtain an easy-to-use product with options resembling tree well being, pest and illness monitoring.
“Our imaginative and prescient is to allow the Tree Farming four.zero Revolution with the Intelligence-per-Tree that we offer. SeeTree as a standalone resolution can cut back operational bills by 20-40%. By connecting SeeTree to tractors and irrigation programs, we will unlock extra optimizations to additional enhance the worth to our farmers,” mentioned Talpaz.
“This funding represents each Orbia’s and Netafim’s need to broaden its investments within the subject of innovation and know-how,” mentioned Shai Albaranes, VP of innovation and ventures at Orbia. “As strategic traders, we see the mixing of know-how in Netafim’s world operations as a market chief. Becoming a member of Netafim and Orbia supplies start-ups with entry to worldwide markets extra simply, with the help and help of a number one world firm.”
“SeeTree has scaled in a large however frankly difficult-to-penetrate market,” mentioned Pasha Romanovski, cofounder and companion at Hanaco Ventures and board director at SeeTree. “The SeeTree staff, led by Israel, has been in a position to productize an incredible quantity of deep know-how right into a platform accessible to farmers. They’ve developed nice know-how and have been in a position to execute in an essential market ripe for innovation – bushes.”
SeeTree, a number one participant within the agriculture tech area, was based in September 2017 by former intelligence officers and serial entrepreneurs to convey know-how disruption into the world of tree farming. The corporate’s headquarters are in Tel Aviv with places of work in California and Brazil, and 120+ staff are comprised of worldwide specialists in synthetic intelligence, operations, and agronomy. SeeTree affords farmers an end-to-end service to handle and optimize the well being and productiveness of their bushes. SeeTree has raised over $45 million from main enterprise capital companies to tackle the challenges that farmers proceed to expertise throughout the globe and was constructed from the bottom up with the wants of farmers in thoughts.
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