Israeli precision agriculture startup Agritask has raised an $8.5 million Series A funding round, the company announced Tuesday. The round was led by the InsuResilience Investment Fund, a venture capital firm set up on behalf of the German government by KfW, a German state-owned development bank. Barn Investimentos, a Brazilian early-stage investment firm co-invested in the Israeli startup.
Founded in 2010, Agritask has developed a platform that puts all of a grower’s agricultural data — aerial imaging, sensors, machine data, weather forecasts, and agronomic models — into one place. The platform has the ability to integrate over 40 data sources like IBM, SAP, and Airbus.
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Agritask aims to grow its farmer client base in the Americas with its latest round of financing, while it continues to expand its regional project and insurance sectors worldwide.
The company is currently active in 20 countries worldwide and covers more than 50 crop types.
Clients include farmers, food and beverage companies, agricultural insurers, input providers and governments or developmental organizations. The company serves some of the most prestigious names in the agriculture industry such as General Mills, Suzano, and Bom Jesus.
“We knew from day one 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,” said
Israel Fraier, Agritask founder.
“The data-driven insights generated by our system create an opportunity to build a new generation of precision agronomy tools that we’re only beginning to understand,” said Ofir Ardon, Agritask CEO.