The team at Sprout are proud to see that CropX has successfully raised $9Million in Series A funding from leading agritech investors in the US including: Finistere Ventures, Innovation Endevours and Greensoil Ventures. CropX describes itself as an ag-analytics company that has developed the world’s most advanced adaptive irrigation service, which automatically optimizes irrigation, thereby delivering dramatic crop yield increase and water and energy cost savings to farms.
The team at BCC was integral to getting this exciting company started by supporting the Founder and CEO Isaac Bentwich through the process of building and funding the company through it's early stages in New Zealand.
CropX was founded by Isaac Bentwich in 2013. Having grown and exited multiple high growth companies, Isaac contacted the Sprout team and showed interest in the agritech space. The team, including members from BCC, Richard Curtis and Dean Tilyard, assisted Isaac through the process of identifying some promising intellectual property and a market opportunity. By supporting Isaac to raise an angel round in New Zealand, CropX is now well on its way to be a high growth global company that has a billion dollar market opportunity in front of it.
Some great lessons from the CropX journey that we are integrating into the fabric of Sprout:
- Take a global mindset when approaching opportunities in agritech: While water in New Zealand is only a problem in small areas, globally it is a massive problem and provides opportunities for new startups to generate value
- Get good people around the startup early: When Isaac first decided to found CropX he surrounded himself with people who understand investment (Dean Tilyard and the team from BCC/Sprout), the technology (Landcare NZ - Dr Caralyn Hedley) and growth companies (Marcel Van Dem Assum - Chair of Green Button(Acquired by Microsoft).
- Raise capital from smart investors to move quickly to the global market
We will share more about CropX over the next few months. In the meantime you can read more about them here: