FruitSpec, a Tel Aviv, Israel-based provider of a yield management platform, raised $5m in funding.
The round was led by Amathaon Capital, Ocean Azul, and Smart-Agro, an R&D partnership traded on the Tel Aviv Stock Exchange specializing in agro-food investments, with participation from current investors The Trendlines Group and Agriline, a trust of which Vincent Tchenguiz is a discretionary beneficiary.
The company intends to use the funds to expand sales and marketing in Chile, the US, South Africa and Spain and to increase benefits to customers by introducing new additional services.
Led by CEO Raviv Kula, FruitSpec provides a “Yield Management Platform” that gives digital visibility of fruit yield data to all supply-chain production unit departments, from the farmer, through the picking, packing, and marketing departments. The platform uses an early-season accurate fruit yield prediction technology together with digital tools, allowing customers to optimize yield sales and operations, resulting in increased profitability.
Using its yield prediction technology and analytic tools, customers can plan, manage and optimize their operational, logistics and commercial decisions at an early season stage, months before fruit delivery. Data accuracy, visibility and analysis enables customers to increase their profitability.