Groningen-based CropX Technologies, a provider of agribusiness farm management solutions, announced on Wednesday, October 4, that Brussels-based VC firm Newtree Impact has joined the CropX Series C funding round.
The Dutch company closed its $30M (approximately €28.4M) Series C round of funding in April 2023 in a round led by Aliaxis that included Edaphon, Finistere Ventures, NTT Finance Corporation, OurCrowd, Reinke Irrigation, Yair Shamir, and Victrix.
However, the Dutch reopened the round to include Newtree Impact.
With this funding, CropX will accelerate its efforts in making precision agriculture accessible to farmers globally leading to more efficient resource use, increased crop yields, and a healthier planet.
“We are delighted to welcome Newtree Impact as a strategic investor in our Series C funding round,” says Tomer Tzach, CEO of CropX Technologies. “Newtree Impact invests in companies that productively disrupt agriculture for the greater good of the climate and people. CropX is a perfect fit for their portfolio with our mission to transform agriculture through data-driven innovations. This partnership will enable us to empower farmers and improve food production worldwide for the greater good of the planet.”
CropX: Developing advanced adaptive irrigation
CropX is an ag-analytics company that has developed the world’s most advanced adaptive irrigation service to automatically optimise irrigation.
The company’s flagship product, CropX agronomic farm management system, synthesises data from soil to sky to offer advanced soil and crop intelligence and a suite of digital agronomic decision and planning tools.
It provides farmers with real-time information and agronomic advice about soil conditions, moisture levels, and crop health and offers custom APIs and enhanced connections to supply chain partners.
The investor
Newtree Impact is dedicated to fighting climate change by investing in revolutionary agri-food technologies.
Newtree Impact has invested, among others, in Fable Food (a mushroom-based alternative to meat); EvodiaBio (producer of natural flavours); Algama (producer of food ingredients from microalgae); Protix (the world leader in insect ingredients); and Proteon Pharmaceuticals (bacterial phages to combat growing antibiotic resistance).
“We are excited to support CropX Technologies in their mission to drive sustainable agriculture forward,” says Benoît de Bruyn, founder and CEO at Newtree Impact. “Their innovative approach to agronomic farm management aligns perfectly with our commitment to rapidly create a more sustainable future. We believe that this partnership will drive positive change in the agriculture industry and ultimately make agriculture a part of the climate solution.”
Read the orginal article: https://siliconcanals.com/news/startups/newtree-impact-backs-cropx-technologies/
