Agritask, Tel Aviv, Israel-based agtech startup, secured US$26M in funding.
The round was led by Liechtenstein Group with participation from Bridges Israel impact investment fund and Smart Agro Fund, as well as existing investors including The Insuresilience Investment Fund.
The company will use the funding to accelerate development of innovative products, scale up sales and marketing operations worldwide, and attract and onboard key talent to join its international team.
Founded in 2010 by serial entrepreneur Israel Fraier, Agritask provides a SaaS Agronomic Intelligence (AgI) platform that drives transparency, insights, and decision making across the agri-food value chain, focusing primarily on the Food & Beverage and Agricultural Insurance industries. The syastem monitors over 50 different crop types across more than 2 million hectares of land across 35+ countries worldwide. Data captured from multiple sources including a mobile app, remote sensing, weather stations, satellite imagery, sensors, irrigation, machinery, and integrations with more than 70 agronomic systems and enterprise software feeds into Agritask’s global agronomic data hub, massive in variety and scale. Through machine learning combined with in-house agronomic expertise, the platform offers insights and models for crop growth, yield estimations, and risk assessment.
Brands such as Starbucks and Heineken use Agritask to minimize risk and predict supply chains, optimize farming operations, and ensure sustainable farming and sourcing practices.
The company is headquartered in Tel Aviv and employs 70 people worldwide with offices in Brazil and Bulgaria.
FinSMEs
03/02/2022