Treetoscope, an Israeli-based startup specializing in precision irrigation management, has successfully closed a $7 million seed funding round. The round was led by Champel Capital and included other strategic investors such as Leon Recanati's GlenRock Fund, SeedIL, and YYM-Ventures. The company aims to revolutionize irrigation management by providing real-time data and insights to farmers, thereby mitigating global water scarcity.
Innovative Technology
Treetoscope employs Artificial Intelligence and patented in-tree sensors to offer unprecedented accuracy in measuring plant water consumption. This technology allows farmers to precisely control irrigation, optimizing both the amount and frequency of water usage. The result is a significant reduction in water consumption and soil pollution, saving billions of dollars annually for farmers worldwide.
Financial Milestones
To date, Treetoscope has secured over $10 million in total investments, including grants from the Israel Innovation Authority and Bird Foundation, a joint Israel-US government fund. The company has seen significant sales volume growth, particularly in North America and Europe, through collaborations with leading enterprises like The Toro Company and Netafim.
Addressing Global Challenges
Dotan Eshet, CEO of Treetoscope, emphasized the urgency of addressing the lack of freshwater resources, stating that 70% of the world's freshwater consumption is used by the agricultural sector. He added that this consumption is expected to increase by approximately 60% by 2025. Through Treetoscope's technology, farmers can save around 30% in irrigation expenses and increase the weighted profit by approximately $32 billion per year in Europe and the U.S.
Investor Perspective
Amir Weitman, Managing Partner at Champel Capital, praised Treetoscope for developing a unique solution to one of the most pressing problems in the worldwide food chain. He expressed pride in helping the company make solutions available to farmers to save significant amounts of water and create a genuine impact on the world.
Future Outlook
The new funding will accelerate Treetoscope's R&D efforts and expand its commercial activity to additional territories. The company aims to provide customers with the best tools to face extreme environmental challenges, thereby contributing to sustainable agriculture and water management.
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