Agritask, Israel, completed an $8.5 million Series A financing round, led by the InsuResilience Investment Fund, Switzerland, and co-invested by Barn Investimentos, Brazil. The InsuResilience Investment Fund was set up on behalf of the German government by KfW and is managed by Switzerland-based BlueOrchard Finance.
Agritask developed a flexible and integrative data-driven software platform for agronomic management. With a “one platform, one database” approach, it provides a holistic solution to support real-time decision-making. The platform can integrate with over 40 hardware and software data sources, and supports the entire agricultural production process, ranging from soil fertility management and growth monitoring to harvest logistics.
With proceeds from the latest financing, Agritask will grow its farmer client base in the United States to improve the well-being of farmers, as well as environmental sustainability and food safety.
“We knew from Day 1 that we need to build an extremely flexible platform that will be able to adjust itself to the clients, and not the other way around. Agritask values and embraces the extensive knowledge of its clients, and integrates their wisdom into the platform. As a side effect, we are also creating the largest library of best practices inside our system,” says Israel Fraier, founder.
“The data-driven insights generated by our system creates an opportunity to build a new generation of precision agronomy tools that we’re only beginning to understand. Our developments include cutting-edge tools in the field of smallholder projects and agricultural insurance. We intend to invest more resources in scientifically leveraging the huge amount of data in our system, and given our unique geographic and sector-wide spread, we intend to push the boundaries of data analytics in agriculture,” adds Ofir Ardon, chief executive officer.