Agritask AgriTech Startup Raises $26 Million

Business
AgriTech startup

Agritask AgriTech startup team (Facebook pic)

Agritask, an Israeli AgritTech startup, has secured $26 million in a funding round led by Liechtenstein Group and joined by Bridges Israel impact investment fund and Smart Agro Fund, as well as existing investors including The Insuresilience Investment Fund. The company will use the funding to accelerate development of innovative products, scale up sales and marketing operations worldwide, and attract and onboard key talent to join its international team.

AgriTech is defined as any agricultural technology or agrotechnology that uses technology in agriculture, horticulture, and aquaculture with the aim of improving yield, efficiency, and profitability. An AgriTech startup is basically any new company that uses high tech to improve the field of agriculture.

Founded in 2010 by serial entrepreneur Israel Fraier, the AgriTech startup Agritask’s SaaS Agronomic Intelligence (AgI) platform drives transparency, insights, and better decision making across the agri-food value chain, focusing primarily on the Food & Beverage and Agricultural Insurance industries.

Agritask’s platform provides the Food & Beverage industry with actionable agronomic intelligence. The Agritask Agritech startup monitors over 50 different crop types across more than 2 million hectares of land across more than 35 countries worldwide. Data captured from multiple sources including a mobile app, remote sensing, weather stations, satellite imagery, sensors, irrigation, machinery, and integrations with more than 70 agronomic systems and enterprise software feeds into Agritask’s global agronomic data hub, that the company boasts is massive in variety and scale. Through machine learning combined with in-house agronomic expertise, Agritask offers insights and models for crop growth, yield estimations, and risk assessment enabling its customers to transform agri-food supply chains and promote sustainable farming and sourcing practices.

“Liechtenstein Group has been investing in sustainable, innovative businesses for generations, and it’s wonderful to see our vision and approach validated by them, along with new and returning co-investors,” said Ofir Ardon, CEO of Agritask AgriTech startup. “We are seeing the Food & Beverage industry spearheading a radical change in the agri-food supply chain, increasing their engagement with and support of farmers to move to sustainable and regenerative agriculture. Technology and data play a key role in creating transparencies across the agri-food ecosystem, and Agritask is in a unique position to lead the way. We are looking forward to growing our team and scaling up our work with the world’s leading brands.”

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