Saturas Ltd, one of Israel’s leading agtech companies, announced the closure of the first tranche of $3 million for the continued development of its precision irrigation management system.
The round witnessed the participation of former investors, including Gefen Capital and Hubei Forbon Technology Co. Ltd., alongside the new investor – Trendlines Agrifood Fund.
“We are extremely pleased to complete this investment stage despite the very uncertain times in the COVID-19 period. Following our expansion of sales and operations in the US through our California-based subsidiary, and in Europe, South America and China, this investment enables further market and sales expansion, and development of our production capabilities. We are working to complete the full funding round by the end of the year,” Saturas CEO Anat Halgoa said.
Notably, Saturas has so far successfully tested its technique for embedding the sensor into the stem. The results of the field tests, which were conducted on peach and citrus trees, were consistent.
It is to be mentioned here that Saturas was established with financial support from the Trendlines Agtech incubator, the only food-tech focused technology incubator in Israel.