SupPlant technology
Precision agriculture company SupPlant has raised $10-million to widen the reach of its smart irrigation technology in the South African market.
The company partnered with private equity firm Boresight Capital, social impact fund Menomadin Foundation, Israel-listed Smart-Agro Fund and Israel-based investment company Mivtah Shamir on the company’s latest fundraising round, bringing its total funding to $19-million.
SupPlant considers the South African market one of great potential, since farmers are dealing increasingly with unpredictable weather patterns, as a result of climate change.
The SupPlant technology saves water, reduces costs and improves productivity and yield. It uses agronomic algorithms, artificial intelligence and cloud-based technology to measure the stress levels of plants and monitor water content, alongside plant and fruit growth patterns.
The technology involves sensors being placed on four parts of a plant, gathering data and combining it with real-time and forecasted climatic data. This enables real-time plant monitoring for farmers and aids in decision-making, since SupPlant’s online platform helps make precise irrigation recommendations, based on crop data.
SupPlant’s database holds the combined expertise of 31 crops across 14 countries, covering growing conditions from dry arid regions in the Middle East to tropical conditions in Central America.
The company is rapidly growing its presence across the world, with a strong presence so far in Mexico, Australia and Argentina. In South Africa, SupPlant will be represented and distributed by AECI Plant Health.
SupPlant CEO Ori Ben Ner remarks that the company aims to reach as many South African farmers as possible and help them use less water, while producing more and better crops.
Boresight partner Jeffrey Swartz adds that, in a world at risk of the destructive impact of the changing climate, SupPlant’s solution is a concrete example of how technology can improve the world, by producing food more sustainably.