CropX closes $30m Series C round
CropX Technologies announced the completion of a Series C financing round with USD$30 million in funding.
The funding will be used to build on the two pillars of CropX’s growth: the continued development of innovative capabilities for its agronomic farm management system, and the acquisition of companies with complementary technologies and market reach.
The funding round was led by Aliaxis SA, a company that enables access to water and energy through inventive fluid management solutions. Through this partnership, Aliaxis and CropX will continue to collaborate closely in the field of data-driven precision irrigation. Additional investors in the round include Edaphon, Finistere Ventures, NTT Finance Corporation, OurCrowd, Reinke Irrigation, Yair Shamir, and Victrix.
Users of CropX’s irrigation planning are able to conserve irrigation water and boost yields. In addition to irrigation, the CropX system also optimizes the use of energy and fertilizers, supports farmers in adopting more sustainable farming practices, and is becoming a one-stop-shop for crop management. CropX now has over 100 employees in the U.S., the Netherlands, Israel and New Zealand and a large research and development department.
The round follows CropX’s January acquisition of California-based precision irrigation company Tule Technologies, CropX’s fourth acquisition.
Financial details of this agreement were not disclosed.
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