Aquaspy raises $2M to further soil sensor technology

Aquaspy raises $2M to further soil sensor technology

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According to a SEC Filing, Aquaspy which produces a soil sensor has raised $1,930,000 of a $2 million debt offering, with $70,000 remaining to be sold. AquaSpy consists of a underground soil probe that monitors temperature and moisture in real time and relays that data back to a server every 15 minutes over a CDMA/GSM cellular network.

The AquaSpy’s system consists of a soil sensor buried 60″ into the soil and is outfitted with soil sensors every four inches along the vertical shaft. Along with their web-based software, AquaSpy intends to helps growers become more efficient with water, fertilizer and energy. The AquaSpy system also gives growers actionable alerts to their cell phone, such as: “Drainage Occurring, Do Not Apply Chemicals” or “32 Hours Until Next Irrigation”

The company is lead by serial entrepreneur Bruce Moeller, CEO a former Ernst & Young Entrepreneur of the Year, and three time Inc 500 CEO. While the company was originally founded back in 1998, they restarted under new management in 2009-2010. While Cultivian Ventures led the restart round back in 2010, investors dating back to 2007 include Espirito Santo Ventures, WHB Partners and Emerald Technology Ventures. It was not disclosed who participated in this round.

Have news or tips? Email rob@agfunder.com

IMAGE Courtsey of PitchCare.com

 

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