Ag-Tech Company SeeTree Raises $30M in Funding to Scale Globally, Expand into New Crops
SeeTree, an AI-powered, end-to-end service that provides growers with intelligence on trees and tree clusters, has announced it has raised $30 million in a Series B funding round led by the International Finance Corporation (IFC), the private sector arm of the World Bank Group. This third round of funding, one of the largest investment rounds for an Israeli Agtech company, will allow SeeTree to scale globally, grow the R&D and customer-facing teams and broaden services to cover new crops.
Other investors include Citrosuco, one of the world’s largest orange juice producers with sales to more than 100 countries; Orbia Ventures, corporate VC of Orbia, a global provider of innovative solutions for rapid urbanization and water and food scarcity that owns Netafim, the leading drip irrigation system in the world; and Kubota, a Japanese manufacturer specializing in tractor and agricultural equipment. Existing investor Hanaco Ventures, a leading Tel Aviv and New York-based VC who led the Series A round, is participating as well.
“All of our new investors are true partners who believe in the power of our platform to increase productivity and help address the impact of the climate and other major challenges in agricultural production today and going forward to the future,” said Israel Talpaz, SeeTree co-founder and CEO.
“Artificial intelligence can revolutionize agriculture and have a transformative impact on productivity, the environment and the livelihoods of farmers,” said Stephanie von Friedeburg, interim managing director and executive vice president and chief operating officer of IFC. “We are excited to invest in SeeTree´s technology and help leverage precision agriculture in emerging markets.”
MORE BY BUSINESS WIRE
Agritask Partners with Pessl Instruments to Enhance Agronomic Data Analytics with Advanced Weather Data
Ever.Ag Adopts Varda’s Global FieldID to Improve Traceability in Ag Retail
With operations in Brazil, the U.S., Chile, and South Africa and a team of 120 professionals, SeeTree monitors over 50 million trees around the world, which will grow to 1 billion trees by 2023.
Continue reading at Business Wire.
Subscribe Today For
