Hortau, a Levis, Québec, Canada-based provider of precision irrigation management services for commercial agriculture, closed a $20m equity funding round.
Backers included
– Export Development Canada ($7m),
– Fonds de solidarité FTQ ($5.9m),
– Fondaction,
– Avrio Ventures LP II, Advantage Capital Agribusiness Partners LP (ACAP),
– BDC Capital, and
– Capital régional et coopératif Desjardins.
The company intends to use the funds to accelerate product development, growth and continued international expansion.
Founded in 2002 by two agriculturally minded entrepreneurs, Dr. Jean Caron, agronomist, Ph.D in Soil Physics, and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics, Hortau provides precision irrigation management services for growers to detect crop stress, ensuring optimal growth while reducing water use, energy consumption and nutrient loss.
The company recently launched a new application that gives growers a unified interface (between mobile and web views) and streamlines real-time irrigation management data from the field. The app allows growers to quickly identify critical information right from their dashboard, see a map overview of their operation and where action is needed, as well as monitor soil tension, weather and other data from the field in a simplified fashion.
FinSMEs
28/02/2019