Disclosure: AFN’s parent company, AgFunder, is an investor in Fieldin.
US and Israel-based digital ag startup Fieldin has raised $30 million in Series B funding.
The round was led by Fortissimo Capital, with Zeev Ventures, Icon Ventures, Maor Investments, and Akkadian Ventures also participating.
The round brings Fieldin’s total funding to $55 million.
Founded in Haifa, Israel in 2013, Fieldin has since established bases in Fresno and San Jose, California, as well as an outpost in Mildura, Australia. It’s aiming to bring “transparency and efficiencies to spraying, harvesting, and cultural practices” in commercial orchards, vinyards, and other specialty crop operations – a market which is on track to reach an estimated $1.7 trillion in value by 2027, according to research from StrategyR.
With this objective in mind, Fieldin has built an “operating system” for farming, AgOS, which uses real-time data analytics and machine learning to provide specialty crop growers with recommendations about the management of their operations. This includes boosting efficiency and profits, supporting crop health, improving yields, and increasing sustainability.
AgOS evaluates the entire growing cycle from planning to execution and embraces a range of factors like workers, equipment, and materials.
The platform gathers data from the farm via sensors that are installed on tractors, implements, and other machinery. This data is then processed through AgOS and the recommendations are made available to users through a dashboard.
“We are starting to see the development of autonomous farm equipment; it’s an exciting milestone for the industry,” Fieldin co-founder and CEO Boaz Bachar said in a statement.
“AgOS easily interfaces with digital equipment and can both manage and disseminate the data produced by the coming wave of autonomous farm technologies.”
Why AgFunder invested in FieldIn – read the investment note here
Iftach Birger, co-founder and chief operating officer, added: “Today’s growers are challenged by many factors, like chronic labor shortages, strict regulations, pests, unpredictable weather, water shortages, oil prices, and more. Fieldin is driving the strategic utilization of agricultural resources against these constraints, not only optimizing operations and reducing costs, but also making a positive global contribution through better food, higher yields, and environmental impact management.”
Overall, FieldIn claims that it has provided its users with an estimated 25% improvement in farm productivity.
FieldIn says that its platform is being used on five of the 10 largest farms in California, and is providing support for 20% of the global almond industry. Singapore-based agribusiness giant Olam, US salad greens grower Taylor Farms, and olive oil maker California Olive Ranch are just a few of the company’s clients.
FieldIn’s earlier backers include AgFunder, Gal Ventures, Germin8, Mindset Ventures, and Terra Venture Partners.
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