FieldIn, an Israeli Startup That is Disrupting AgPest Via IoT & Big Data, Completes a $4M Funding Round
FieldIn is disrupting the $65 Billion Agricultural Pesticide (AgPest) market utilizing IoT devices connected to its powerful analytics platform, providing growers with unprecedented control over their farming operations, while constructing the largest AgPest dataset in existence.
SALINAS, California, Jan. 10, 2018 /PRNewswire/ -- FieldIn is disrupting the $65 Billion Agricultural Pesticide (AgPest) market utilizing IoT devices connected to its powerful analytics platform, providing growers with unprecedented control over their farming operations, while constructing the largest AgPest dataset in existence. Over the past two years FieldIn has successfully monitored over 1 million sprayed acres in real-time, to discover that more than 25% of sprays were performed with consequential errors. Moreover, according to publications, over $300B of annual world crops is lost due to problems related to pest and disease control. FieldIn's innovative technology allows growers, as well as the entire AgPest supply chain (from growers to retailers), to improve yields, decrease costs and dramatically reduce the impact of pesticides on our entire environment.
"Our AgPest dataset has reached a critical-mass coverage that enables us to provide unique insights on crops, chemicals and geographies," said Boaz Bachar, Founder and CEO of FieldIn. "We started our initial activities in Israel and expect to cover over 40 percent of the citrus and vine markets in 2018. Fieldin is rapidly expanding to the US, Europe and Africa, and has landed major contracts with some of the biggest names in the industry. We are especially excited about our recent agreement with 'The Wonderful Company', the world's largest grower of tree nuts. Overseeing nearly 100,000 acres for this company is a significant milestone for us."
In order to support its rapid growth, Fieldin has secured a strategic partnership with Adama, a global leader in crop protection solutions, as well as a distribution agreement with Kern Machinery, John Deer's largest distributor in California. "FieldIn offers growers a unique spray management system that is economical and easy to use. It's a strategic asset that should be part of every grower's fleet," said Larry Sitzman, GM of Kern Machinery.
Amid these accomplishments, FieldIn is now announcing that it has successfully closed $4M in funding. The round was co-lead by Gal Ventures and Germin8 Ventures along with participation of early investors, Terra Ventures. Additional participants in this round include prominent international angels and the Israel Innovation Authority (formerly the Office of the Chief Scientist of Israel's Ministry of Economy).
Bachar shared his plans for the future: "This funding round is an important milestone for FieldIn. We intend to increase our customer base worldwide while enhancing our unique AgPest dataset. This will get us closer to fulfilling our vision: empowering an industry in which all AgPest activities become data driven, where FieldIn serves as the authoritative data source for the entire supply chain - chemical manufacturers, growers, retailers, and ultimately consumers".
About FieldIn Tech
FieldIn is a data software service that provides real time management of AgPest usage, patterns and efficacy. Utilizing advanced data analytics and artificial intelligence, FieldIn computes geospatial, chemical, biological, weather and other parameters, to provide growers the ability to dramatically improve yields, adapt to evolving pest resistance and reduce costs. FieldIn has created the largest and most comprehensive AgPest dataset in the world, enabling data driven improvements of field execution, application methods and chemicals efficacy for the AgPest supply chain. No less important, this new transparency positively impacts the environment through diminished pesticide contamination.
For more information, please visit www.fieldintech.com.
Boaz Bachar, Founder and CEO is a Law & Business graduate from the Interdisciplinary center's Zell Entrepreneurship program. Iftach Birger, the company Chief Agronomist, holds a B.A.Sc in plant sciences as well as a Masters in Biotechnology from the Hebrew University and was born and raised on an agricultural farm. The company counts 25 team members which are comprised of software engineers, data scientists and agronomists in its Ramat-Yishai offices, as well as sales and support team members in California and South Africa. The company plans to expand its teams in Israel and in California in order to support its rapid growth.