Home Crop Monitoring Croptimistic Technology announces Series A funding

Croptimistic Technology announces Series A funding

[ad_1]

Croptimistic Technology Inc. is saying $2.5 million in Series A funding from Forage Capital Companions to enhance an extra $1.7 million in funding from the founders and institutional debt.

The brand new capital will assist speed up the expansion of Croptimistic’s SWAT MAPS know-how, which supplies farmers and companions with excessive decision basis maps to execute variable price fertilizer, seed, soil modification, herbicide, and precision water administration.

Croptimistic CEO and co-founder Cory Willness says the corporate is happy to take the subsequent steps with the staff at Forage.

“Jim Taylor and Steven Leakos have already made strides due to their extensive expertise in the agtech space. We want to acknowledge our incredible team based in three countries who have worked tirelessly to get us here and our COO, Rob Harris, who was instrumental in executing this funding.”

Chief know-how officer and co-founder Derek Massey provides, “the funds raised will be used to add developers and professional staff to our Kelowna, B.C. hub to build out the software and hardware solutions in order meet the high growth demands from the millions of acres in our system.”

Croptimistic can also be welcoming new investor, Greg Stewart, who has been appointed chairman of the board of administrators. Stewart is at the moment a director on the Financial institution of Canada and was a former president and CEO of Farm Credit score Canada.

[ad_2]

Source link

Most Popular

Hemp transplanters: an agricultural technology breakthrough

Hemp has the potential to revolutionize many industries. With so many uses and benefits—from textiles, furniture, paper, clothes, biodegradable plastics, paint, insulation, biofuel, and...

Vegetable transplanters: an in-depth explanation of these automatic planter machines

Transplanters aren’t exactly a new agricultural technology. The first transplanter was a rice transplanter invented in 1898 by Heigoro Kawano. Transplanters for rice, vegetables,...

What’s new in tomato farming technology?

Tomatoes are one of the most economically significant crops in the world. It’s estimated that 188M tomatoes were produced worldwide in 2018. Tomato growers, on...