Israel-based start-up Viridix has secured $2.4 million in a seed funding round in a move to expand its irrigation management system into the US market.
The investment round was led by the Israel – Colorado Innovation Fund, a venture unit that invests in Israel start-ups, who were also joined by both current and new investors of the company.
Viridix will use the funding to support the scaling of its irrigation system, that combines a sensor with a software platform that enables farmers to increase crop yields and save water through precise measurement and actionable insights.
The company’s solution will allow farmers to measure the soil moisture content, giving them a better insight into how to best irrigate the crops for optimal crop yield, with an overall aim of conserving water.
“Viridix brings a unique technology with a solid team of visionary entrepreneurs. The solution has been very well received in the Israeli, European and Asian markets and we can help accelerate its growth into the US market,” said Gili Elkin, Israel – Colorado Innovation Fund General Partner.
Elkin added: “We are very excited to partner with Viridix and help solve two of the world’s most critical problems around food production and water conservation.”
Tal Maor, CEO of Viridix, said: “We have a clear target to become the leading global autonomous irrigation system and partnering with the leading irrigation companies to create it. With such strong backers, our journey towards achieving this goal will gain serious momentum.”
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