CropX Technologies, a leading company in digital agronomic farm management, has announced the completion of a Series C funding round with $30 million in funding. The funding round was led by Aliaxis SA, a global leader in fluid management solutions for access to water and energy. Other investors in the round include Edaphon, Finistere Ventures, NTT Finance Corporation, OurCrowd, Reinke Irrigation, Yair Shamir, and Victrix.
The funding will be used to support CropX’s growth in two areas: the ongoing development of innovative capabilities for its agronomic farm management system and the acquisition of companies with complementary technologies and market reach. This will enable CropX to collaborate more closely with Aliaxis in the field of data-driven precision irrigation.
CropX’s irrigation planning allows users to conserve irrigation water and increase yields, and the system also optimizes the use of energy and fertilizers, supports sustainable farming practices, and serves as a one-stop-shop for crop management. CropX has over 100 employees worldwide and a large research and development department.
"Completing this funding is a huge endorsement of the value that we bring to our customers and shareholders, and the positive impact we are making on farms around the world," commented CropX CEO, Tomer Tzach. He added that this funding round follows CropX’s acquisition of Tule Technologies, a California-based precision irrigation company, in January 2022.
According to Eric Olsen, the CEO of Aliaxis, sustainable water management is a core focus for the company, and CropX offers the best-in-class technology for smart irrigation systems in agriculture. He also stated that the collaboration with CropX will aid farmers in conserving water and enhancing crop efficiency in a sustainable manner.
Vincent Vliebergh, Managing Partner of Edaphon, commented that CropX's real-time field data and agronomic expertise supports sustainable farm management and greater productivity to restore soil systems while still feeding a growing population.
The financial details of this agreement were not disclosed. Efficient water usage in agriculture is becoming increasingly important as food production accounts for roughly 70 percent of total freshwater withdrawals globally.
