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Sencrop, a leading micro-climate technology company, with the largest connected community of farmers in Europe, raises $18M led by JVP, to expand its agricultural revolution
News provided bySencrop
May 10, 2022, 6:00 AM ET
- Sencrop's data-driven precision app enables more than 20,000 farmers to have a crop-oriented vision of the weather conditions, disease and pest risks, and their irrigation needs.
- Sencrop empowers farmers to make better decisions and reduce their crop risks, with a positive agro-environmental footprint.
- The leading European company operates in over 20 countries and has offices in France (headquarters), Netherlands, UK, Germany, Spain and Italy. With the new investment, the company will open an extension in the International Foodtech Center in the Galilee, Israel.
- The move comes as part of the international strategy of cooperation between Israel and France, combining AI, data, and climate-tech strategies to find new solutions to the world's climate and agricultural challenges.
LILLE, France, May 10, 2022 /PRNewswire/ -- Sencrop, Europe's most exciting company in precision agriculture through its collaborative agro-weather solutions based on micro-climate, announced today a $18 million Series B fundraising round led by JVP, as part of the leading international VC fund's climate and foodtech initiative.
EIT Food - supported by the European Union, Stellar Impact - managed by Telos Impact, IRD Management and Sencrop's existing shareholders – including BPIfrance, Demeter IM and NCI Waterstart – are also taking part in the transaction.
This round will strengthen Sencrop's leadership in its core markets, accelerate its international expansion towards North America, and consolidate its trajectory on its journey to becoming the world leader in AgTech.
Since its creation in 2016, the collaborative precision farming solution, Sencrop, has been helping farmers limit their crop risks and make better day-to-day decisions for greater comfort, better yields and controlled environmental impact with a clear mission, to make precision farming accessible to all. In six years, the ag-tech start-up has become Europe's leader in field-connected solutions for all types of crops.
"The move comes as part of wider cooperation between the French Government's official investment arm, BPIfrance, with JVP and Israel in general, as part of a win-win strategy between our countries. President Macron has expressly welcomed this along with France's Finance Minister Bruno Le Maire," says Erel Margalit, Founder and Executive Chairman of JVP and Margalit Startup City, and added, "We expect more such projects to follow in light of this important cooperation."
He noted, "From the first time we met Martin and Michael, the company's co-founders, we realized that this leading European company, with its next-generation micro-climate technology, has the ability to revolutionize the farmer's world. Using AI smart solutions, like a personal Waze for the farmer's weather conditions, the farmer can maximize his crop quality in a very short time. Our investment in Sencrop is part of our wider vision to invest in companies that provide ground-breaking solutions to the world's most critical challenges. We are happy to join forces with Sencrop and support the team to bring its ground-breaking micro-climate technology to North America and the rest of the world markets."
Sencrop's sensors and platform enable more than 20,000 professionals to receive real-time and predictive information for their plots: micro-climatic information, water stress, plant growth stages, disease or pest development conditions, and more. Well-informed by thousands of data points, farmers can optimize the use of inputs, for example by spraying only if the weather conditions are right or irrigating only if necessary. Furthermore, the app enables the farmer to identify weather, water stress, pests and disease risks for their crops, including frost episodes and risk of mildew, and act accordingly.
"Sencrop's mission is to democratize precision farming and reduce crop risks for farmers", says Martin Ducroquet, Sencrop's co-founder and General Manager, "We have developed a unique microclimate technology which today allows more than 20,000 professionals - farmers, winegrowers, fruit growers, etc. - to access ultra-precise and ultra-local information for better daily monitoring of their crops and the risks on their plots. The fundraising, led by JVP, a global reference player in ag-tech, opens up new prospects for international acceleration that will be supported by new impact investors, specializing in climate-tech".
"Sencrop's microclimate technology is now used on a daily basis by a large community of farmers in more than 20 countries, with a strong usage", adds Michael Bruniaux, Sencrop's co-founder, and CEO, "The reasons for this strong adoption lie in the simple, collaborative and impactful nature of our solution. As agricultural input prices are rising and weather is becoming even more unstable and critical, Sencrop enables farmers to make the best decisions everyday to reduce crop risks and limit environmental impact, while increasing their profitability."
Based on an increasingly collaborative and open approach, Sencrop ensures that farmers need no longer be alone when facing certain challenges. Connected through networks, they can share the information gathered on their plots and help each other find solutions. Sencrop's activity is based on three pillars: (i) weather monitoring; (ii) anticipation of disease and pest risks; (iii) irrigation management.
Gadi Porat, JVP General Manager says: "Sencrop is the only company that has the largest connected community of farmers in Europe, based on 20k customers that receive online data to help them achieve better results and maximize their yields. This new funding will enable Sencrop to expand this community globally, utilizing more data to help more famers."
About Sencrop: www.sencrop.com
For further details please contact Valérie Gros, Sencorp's International Communication Manager at firstname.lastname@example.org, +33(0)665087917
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