Israeli company focusing on advanced irrigation tech secures $3 million
The round was led by investors Gefen Capital and Hubei Forbon Technology Co. Ltd. participated in the most recent round of funding alongside new investor Trendlines Agrifood Fund.
By ZACHARY KEYSER(photo credit: Courtesy)
Saturas Ltd., an Israeli agricultural technology company, secured $3 million in funding for the development of their precise irrigation system, the company announced on Tuesday.The round was led by investors Gefen Capital and Hubei Forbon Technology Co. Ltd., who participated in the most recent round of funding alongside new investor Trendlines Agrifood Fund.“We are extremely pleased to complete this investment stage despite the very uncertain times in the COVID-19 period. Following our expansion of sales and operations in the US through our California-based subsidiary, and in Europe, South America and China, this investment enables further market and sales expansion, and development of our production capabilities. We are working to complete the full funding round by the end of the year," said Saturas CEO Anat Halgoa.The technology itself was developed to accurately measure the right amount of water plants need in order to thrive without over watering them, which encourages water conservation but also the quantity and quality of the fruits and crops bore by farmers using their system.The system is a build off of their their miniature stem-water potential (SWP) sensor, which remotely monitors plant tissues to determine the correct amount of water the plant needs for optimal growth. Farmers can also monitor their crops remotely, without the need to make trips out in the field to check them manually.The sensors, embedded in the trunks of trees, vines and plants, receive direct input from the tree or vine to provide accurate information for optimized irrigation. .“We believe that Saturas’ unique technology for measuring stem water potential is poised to change the way farmers manage their irrigation – providing a highly accurate method to reduce water use, at the same time as improving the quality of fruit. Our investment represents the fund's commitment to investing in technologies that address food and agricultural production in a sustainable way, using innovative knowledge and a team with proven capabilities. Saturas checks all those boxes,” said Trendlines Agrifood Fund CEO Nitza Kardish, PhD.
