Israeli agricultural analytics and data management company, Phytech, announced it has closed on a Series A led by Syngenta Ventures and Mitsui & Co. Europe, according to a company statement.

 

Phytech’s PlantBeat™ technology is a mobile platform that uses algorithms and data analysis to gather information about crop health and the surrounding environment, which is then used to formulate real-time recommendations to farmers regarding production decisions that will result in optimum crop yields and quality while reducing inputs and water usage.

 

Phytech’s platform is currently being used by producers in the U.S., Brazil, Australia and other leading world markets, however, the financing, which was of an undisclosed amount, will be used by the company to fund the continued expansion of the global commercialization of its technologies.

 

“We believe that the support of leading global strategic investors such as Syngenta and Mitsui would allow Phytech to significantly enhance its decision support, cutting edge technology and innovation as well as its commercial development”, says Sarig Duek, Phytech’s CEO.

 

Both Syngenta and Mitsui recognize that future food security and resource conservation lie greatly the success of technological advancements.

 

“Syngenta’s ambition is to bring greater food security in an environmentally sustainable way to an increasingly populous world by creating a worldwide step-change in farm productivity,” said Dr. Michael Lee, Managing Director at Syngenta Ventures. “In working towards our ambition, we put the grower at the center of everything we do. Phytech’s grower centric solutions join our breadth of technologies in crop protection, seeds, traits and seed treatment, providing the grower with integrated offers and broad-based innovation for the future “.

 

Mr. Masato Hisamune, SVP and DOO of Innovation and Corporate Development Division, Mitsui & Co Europe added in a release announcing the financing, “Investing in Phytech meets our consistent strategy for innovative technology and new business development. We would like to provide Phytech with services and solutions that meet their diverse needs, optimizing Mitsui’s global marketing networks and extensive business experience.”