The acquisition marks CropX’s foray into the New Zealand market. It has longstanding ties to the region through its original funders, a group of angel investors in the New Zealand ag community, and additional investor Finistere Ventures. Firm co-founder Arama Kukutai hails from New Zealand and maintains ties to the region that helped CropX seal the deal.
“The southern hemisphere is very interesting for us,” Timer Tzach, CropX CEO, told AFN. “Agtech has a lot of seasonality and since we have been focused mostly on the US and northern hemisphere, increasing our presence in the southern hemisphere flattens out the seasonality curve. It’s helpful for us.”