Israeli agritech startup, InnerPlant, announced it raised $30 million in Series B funding round led by Coutts Agro, a key operator and agricultural investor. The round saw participation from Systemiq Capital, and previous investors including Deere & Company and Bison Ventures. The latest round brings InnerPlant's total funding to over $51 million.
InnerPlant’s technology involves genetically engineering plants to emit distinct optical signals under stress conditions, such as nutrient deficiencies or pest attacks. These signals, detectable even from space, can indicate stress up to three weeks before traditional methods. The startup’s first commercial product, InnerSoy, is currently piloting in Southern Illinois in collaboration with GROWMARK. The program aims to provide early fungal infestation warnings, with plans to expand the technology across the Midwest over the next three years.
According to Matt Coutts, Chief Investment Officer of Coutts Agro and InnerPlant board member, the startup's technology is capable of increasing agricultural GDP by "fundamentally changing crop management.”
The investment follows InnerPlant’s recent collaboration with John Deere and Syngenta to develop a precision platform linking early plant signals to optimized crop treatments using See & Spray technology.
InnerPlant's previously raised its Series A funding round in 2022, $16 million, led by Deere & Company. The startup was founded in 2018 by Roderick Kumimoto (CSO) and Shely Aronov (CEO).
Earlier this year, the startup was named in Fast Company’s list of the World’s Most Innovative Companies of 2024.
