Monday
June 14
2021

Agritech Supplant Raises $10 Million to Accelerate South African Agriculture Growth

By Luis Monzon

Today SupPlant, a leading precision agriculture hardware-software solution, has announced its recent funding round, raising $10-million partially dedicated to accelerating its penetration into the South African Market. The round is co-led by Boresight Capital, Menomadin Foundation, Smart-Agro Fund and Mivtah Shamir. The raise brings SupPlants’s total funding to more than $19-million.

New Challenges Faced by Farmers

The round comes amidst global warming impacting South African farmers who are dealing daily with the unpredicted climate that is changing rapidly causing tropical storms, cold spells, heat waves and constant lack of irrigation water.

SupPlant is helping farmers cope with climate change by making its technology that changes the basic concepts of irrigation more available in the South African market.

Photo courtesy of Neil Palmer.

Source: ITNewsAfrica.com (link opens in a new window)

Categories
Agriculture, Investing, Technology
Tags
agriculture, farming, impact investing, scale, smallholder farmers, sustainability