SupPlant Raises $27M To Help Farmers Fight Climate Change
The round comes amidst global warming impacting farmers who are dealing daily with the unpredicted climate that is changing rapidly and the constant lack of irrigation water. SupPlant is generating climate smart irrigation recommendations to help farmers around the world be more resilient to volatile weather events.
Tel Aviv, March 14, 2022 - Today SupPlant, the AgTech company recently chosen as one of TIME's Best Inventions, is excited to announce its recent funding round, raising $27M to accelerate its intention to digitally inform every irrigation recommendation on earth. The round is led by Red Dot Capital Partners with participation from Menomadin Foundation, Smart-Agro Fund, Mivtah Shamir, Deshpande Foundation, PBFS and Maor Investments. The round brings SupPlants's total funding to more than $46M. As part of this round, Atad Peled of Red Dot will join SupPlant's Board of Directors.
SupPlant recently launched an API product, a sensor-less technology that has served 500,000 female maize farmers in Kenya over the last season. SupPlant is making their technology available to these smallholder farmers by changing the basic concept of irrigation methods. The new technology is designed for the world's 450M small growers. In 2022, SupPlant aims that over 1 Million smallholders in Africa and India will be utilizing its new technology.
The API product relies on SupPlant's database which is the largest plant database in the world, accumulated by data collected from 32 crops in 14 countries, covering growing conditions from dry arid regions of the Middle East to tropical conditions in central America. The sensors are placed on the plants and their surroundings which radiate the plant's data to the cloud: how much water the plant actually needs to maximize growth. This data is translated through the use of artificial intelligence and big data to irrigation models, recommendations and actionable insights.
SupPlant, an Israeli-based company, has taken advantage of the Abraham Accords and geopolitical changes in the region to open two new markets in the last year: UAE and Morocco.
"The funds raised in this round will allow us to invest on our new markets and open other markets as well" said Ori Ben Ner, CEO of SupPlant "We also plan to continue to develop our sensor-less API product in order to help 98% of the farmers in the world fight climate change. It is far superior from any common practice available and is built for the vast majority of farmers on earth - smallholders that can't afford access to hardware intense technology and unique knowledge."
"We were impressed by SupPlant's abilities and recent expansion into strategic markets," says Atad Peled, Principal at Red Dot. "We were also inspired by their goal: working with smallholder farms, who usually do not have access to AgTech. Food security will be a major issue in coming years, and we feel certain SupPlant's solution will have a stand-out role in it".
SupPlant is a world-leading company in the field of precision agriculture. Using SupPlant's technology, farmers are able to improve yields, productivity and water use efficiency on a large scale. The technology combines data collected from soil, plant, and weather sensors to understand and identify the main parameters affecting the optimal performance of plants. Combining and analyzing all the data, in real time, using intelligent algorithms, SupPlant provides a precise irrigation plan and recommendations on daily and weekly bases to maximize crops and budget, putting away the uncertainties of climate change, varieties and growing conditions.
This advanced technology sets the plants in the center of the picture, identifying the smallest changes in the plant's behavior and well being.