Investors aren’t hesitating to put more money into companies that help cultivate more greens.
Solinftec is the latest agtech startup to secure a large round this year, following a record year of fundraising in 2021. The Lightsmith Group led a $60 million growth round for the company, which has offices in both So Paulo, Brazil, and West Lafayette, Indiana.
More than 27 million acres in Brazil, the United States, and Latin America are managed using Solinftec’s digital farm management system.
Customers may get real-time, in-field data on crops, equipment, weather conditions, and more thanks to sensors and AI-powered software. Customers can use the system to schedule and plan their farming operations, as well as make adjustments.
The new funding will be used to grow the company’s operations in both North and South America.
Agtech has risen to prominence among investors after years of being regarded as an afterthought. According to Crunchbase data, the sector had never surpassed the $2 billion investment threshold in any year before 2020. However, funding increased in 2020, reaching roughly $5.7 billion in 2021.
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