CropX Technologies, a digital agronomic farm management leader, has completed a $30 million Series C financing round. Aliaxis SA, a company that enables access to water and energy worldwide with innovative fluid management solutions, led the round.
The funding will enable CropX to enhance its agronomic farm management system further and acquire companies with compatible technologies and market penetration. In addition, Aliaxis and CropX will stay connected in data-driven precision irrigation with this alliance. Besides Aliaxis, other investors in this round include Edaphon, Finistere Ventures, NTT Finance Corporation, OurCrowd, Reinke Irrigation, Yair Shamir, and Victrix.
Food production accounts for a bulk of global freshwater withdrawals; utilizing CropX's irrigation planning can help conserve this necessary resource and boost yields. This system optimizes not only water use but also energy and fertilizer consumption. Furthermore, it encourages farming practices with sustainability in mind. Consequently, CropX has grown to include over 100 employees across the US, Netherlands, Israel, and New Zealand. Also, its extensive research and development team boosts its effectiveness in crop management.
CropX CEO Tomer Tzach comments: "Completing this funding is a huge endorsement from our investors of the value that we bring to our customers and shareholders, and the positive impact we are making on farms around the world. This round follows CropX's January acquisition of California-based precision irrigation company Tule Technologies, our fourth acquisition. We are proud to be one of the consolidation leaders in ag-tech as we bring a complete, powerful and simple solution to farms and agribusinesses."
CropX did not disclose the financial details of this agreement.