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Treetoscope Closes the Latest USD 7 Million SEED Fundraising Round
News provided byEIN Presswire
Sep 18, 2023, 8:00 AM ET
Treetoscope's system offers farmers an affordable, user-friendly, and world's first plant-based SaaS platform for optimizing irrigation and water savings
TEL AVIV, ISRAEL, September 18, 2023/EINPresswire.com/ -- Treetoscope, an innovative start-up in precision irrigation management, has announced the successful completion of its latest SEED fundraising round, securing vital funding amounting to USD 7 million. Leading the way in this round is the Champel Capital venture capital fund, a leading European-Israeli fund focusing on impact technology investments, together with other strategic investors notably including Leon Recanati's GlenRock fund, SeedIL, and YYM-Ventures.
“We are thrilled to announce the successful completion of our latest fundraising round, securing critical funding totalling USD 7 million. This achievement propels our vision as a pioneering startup in precision irrigation management and our dedication to mitigating global water scarcity. The new funding will enable us to expedite our research program and to grow, improve, and carry out our mission to provide the tools for sustainable water usage more effectively,” said Dotan Eshet, CEO of Treetoscope.
Solution for Sustainable Farming and Water Crises:
According to the OECD, agriculture stands at the forefront, accounting for a staggering 70% of freshwater withdrawals worldwide. Consequently, water prices, especially for agricultural usage, are on the rise, placing additional strain on farmers who already operate with narrow profit margins.
“As we confront the pressing impacts of climate change and population growth, it becomes evident that sustainable water management in agriculture is paramount. Saving 2% in global agriculture water consumption is equivalent to the water consumption of all the residents of the United States in one year. With our technology, farmers can save approximately 30% in irrigation expenses, increase the yield, as well as weighted profit of the farmers in Europe and the US, by ~$32 billion per year,” continued Dotan Eshet.
Amir Weitman, managing partner at Champel Capital, a lead investor in the company said, “Treetoscope has developed a unique solution to one of the most painful problems in the worldwide food chain, where fresh water is becoming a rare, expensive commodity. We are proud to partner with such a company that provides solutions to farmers to save significant amounts of water and create a genuine impact in the world."
World’s First Plant-based Irrigation Technology:
Treetoscope is the world's first plant-based irrigation SaaS platform that provides unprecedented accuracy in measuring the real-time actual water of key crops by using patented in-tree sensors integrated with satellite imagery and other remote data sources support.
Treetoscope provides farmers with an easy-to-use kit, complete with simple DIY (Do-it-Yourself) installation instructions for the innovative sensor system.
The Treetoscope platform employs AI to process the gathered data, including insights into water flow within the plant stem and the tree's stress levels. Through a dedicated app, farmers can then precisely control irrigation, ensuring their plots receive just the right amount of water required for optimal growth.
“By understanding when their crops need water the most and tailoring irrigation accordingly, farmers can maximize yields while using less water. This approach not only enhances agricultural sustainability but also enables us to address global challenges stemming from climate change,” said Dotan Eshet.
Treetoscope Partnerships Around the World:
The company has commercially collaborated with some of the world’s leading agri-businesses, as well as renowned research institutes around the world. These collaborations have yielded exceptional returns on investment (ROI) and resulted in many farmers becoming paying customers, underlining the effectiveness and value of Treetoscope’s technology. Treetoscope’s collaborations include:
● In North America, The Toro Company, $11B market cap company, has partnered with Treetoscope and co-branded the innovative technology - Transpira. This collaboration has led to the successful launch of sales in the USA and Mexico, marking a significant milestone for the global expansion of the company.
● Netafim, a global leader in sustainable agricultural irrigation solutions, has rigorously validated Treetoscope technology over three years, paving the way for a global commercialization partnership.
● In Spain and Portugal, Treetoscope is experiencing robust commercial expansion within the expansive market of fruit trees. They have secured significant customers, ranging from almonds and pistachios with key players like Nutalia and Treemond, to wine grapes through an extensive pilot network involving major companies associated with the Federation of Wine Producers (FEV) and the Institute of Vineyards and Wine (ICVV).
● In Italy, Treetoscope is conducting apple and pear trials at Aquacampus, the R&D arm of Canale Emiliano-Romagnolo, a pivotal water-delivery infrastructure entity in the Po Valley. Additionally, they are conducting kiwi trials in partnership with Zespri, the largest Kiwi grower worldwide.
● In France, working with INRAE, the French public research institute dedicated to agricultural science, we are scientifically measuring the effect on citrus trees by reducing irrigation and measuring the stress state of the orchard to establish a robust irrigation regime and save water.
To date, the company, has secured over USD 10 million in total investments, which includes grants from the Israel Innovation Authority and Bird Foundation, a joint Israel-US government fund.
In its second year of sales, Treetoscope has tripled revenue versus the prior year and is on target to meet sales objectives for the current financial year ending December 2023.
Treetoscope's 20 employees are based in Israel and in key markets around the world. In keeping with the company's vision, its offices are located at the Netter Innovation Center outside of Tel Aviv, recently inaugurated in Mikve Israel, Israel’s pioneer agricultural school.
For more information on investment opportunities and to learn how you can partner with Treetoscope, please contact Dotan Eshet at email@example.com.
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Treetoscope, established in 2021, is an Israeli company that developed breakthrough technology for direct plant monitoring. The company offers its innovative services to farmers in North America, Europe, and the Middle East, helping them reduce production costs, increase yields, and optimize their water resources. Treetoscope is currently expanding its activities to new territories and more crops. Visit www.treetoscope.com to learn more.
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