Greeneye technology is changing the agriculture industry one spray at a time.
Greeneye Technology, Agricultural Innovator Tackling One of the World’s Most Critical Challenges, Raises $ 22 Million for Revolutionary Solutions
Every year, farmers around the world apply millions of gallons of herbicides to their land, most of which is sprayed on bare soil or crops. Overuse of chemicals is not only a financial waste, it harms the environment and allows weeds to develop resistance to herbicides. To solve these very important and urgent problems, Greeneye Technology has developed AI-based precision spray technology that enables the precise application of herbicides and other chemicals. They use deep machine learning to enable smart, real-time field decisions that are so accurate it’s proven to reduce herbicide volumes by up to 90% while improving plant efficiency. weed control compared to standard spraying.
Greeneye just completed a $ 22 million funding round led by JVP that included investments from Syngenta Group Ventures and AGCO; both are leading figures in the agricultural industry. Their involvement echoes the industry’s confidence in Geeneye’s revolutionary precision spray technology.
“Precision spraying is a key tool for farmers looking to solve the challenges of the changing agricultural ecosystem, including herbicide resistance, financial pressures and sustainability.” Shubhang Shankar, Managing Director, Syngenta Group Ventures.
Greeneye will use the investment to advance the analytical capabilities of the technology and expand its use to new inputs and crops, which will increase the financial and environmental benefits of precision spraying for farmers beyond herbicides. It will also support Greeneye’s commercial launch in the United States in 2022 and its expansion to North America in 2023. With such a vast expansion on the horizon, Greeneye plans to double its R&D team in Israel and its sales team and operating in the United States. The EU recently announced a new target to halve pesticide use by 2023, this investment round couldn’t have been better.
As Nadav Bocher, CEO of Greeneye Technology, said, “This funding round marks an important milestone in our mission to dramatically reduce the use of chemicals in agriculture and increase farmers’ profitability and productivity, while providing consumers with safer and healthier food. Precision spraying has a crucial role to play in our essential transition to a sustainable food production system, and this investment is a testament to the industry’s absolute confidence that Greeneye is the company to lead the charge. The new investment will allow greeneye to continue fulfilling its mission of developing alternative and sustainable solutions to current crop protection practices to meet the growing global demand for food production while increasing the productivity and profitability of farmers. As stated by Erel Margalit, Founder and Chairman of JVP, “Greeneye’s smart spray solution will have a huge impact on human health, the environment and farmers’ profitability, especially as the costs of agricultural inputs. continue to soar. “