March 15, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

Five months after Treetoscope announced $7 million in Seed funding, the company returns to announce the extension of the round with additional investments from Stray Dog Capital (US), ECG (Thailand), and The Food Tech Lab (Spain), alongside other strategic investors Leon Recanati, GlenRock fund, SeedIL, YYM-Ventures, Agrovision, NEOME, GN-Z11, and Earth.vc.

“The addition of Stray Dog Capital, ECG, and The Food Tech Lab to our group of esteemed investors marks a significant milestone for Treetoscope,” said Dotan Eshet, CEO, Treetoscope.

“It underscores the confidence in our revolutionary technology and our mission. This extended funding round will enable us to further accelerate our research efforts and expand our reach, empowering more farmers with the tools needed for efficient and sustainable agriculture.”

The precision irrigation market has been in an extended period of growth since 2010, and it doesn’t appear to be losing any steam. Valued at $2.24 billion in 2022, the industry is forecast to experience a CAGR of 14.84 percent to reach a value of $4.47 billion by 2027, according to BIS Research. 

When an industry is set for such potential growth, it quickly becomes crowded, making it all the more important that companies set themselves apart from their rivals.

Founded in Tel Aviv in 2020, Treetoscope has developed a unique platform that instead of using soil sensors that don’t interface with plants, or tree-trunk sensors that are limited to measuring tree circumference, uses in-tree or in-plant sensors that provide real-time sap and water uptake data, enabling growers to make more precise irrigation decisions. 

The company’s easy-to-install sensors offer a cost-effective and high-resolution alternative to traditional soil or tree trunk sensors, providing a detailed source of data across vineyards and orchards.

Underscoring Treetoscope’s unique contribution to the irrigation industry, the company was awarded the 2023 New Product Tier 1 Award from the American Irrigation Association for its groundbreaking technology. 

“Partnering with Treetoscope aligns perfectly with The Food Tech Lab’s mission to invest in technologies that redefine the future of food and agriculture,” said Juan Cividanes Roger, managing partner, FoodTech Lab.

“Treetoscope’s innovative approach to precision irrigation directly mirrors our portfolio’s focus on sustainability and efficiency. We’re enthusiastic about their potential to drive significant impact in water conservation and agricultural productivity.”

In addition to gaining further funding and new investors, the company also has expanded its global footprint by extending its reach into the Turkish market in collaboration with Netafim, a leader in global sustainable agricultural irrigation solutions that has conducted a rigorous validation process on Treetoscope’s technology. 

Having already raised more than $10 million to-date, including grants from the Israel Innovation Authority and the Bird Foundation, Treetoscope has realized further commercial success through additional collaborations with leading agribusiness and research institutes including The Toro Company in North America.

Together with successful expansions into Mexico and Spain, and a growing team in California’s Central Valley, Treetoscope is on a strong growth trajectory and is well positioned to lead the sustainable agricultural irrigation space. 

“We are thrilled to be part of Treetoscope’s journey as they revolutionize precision irrigation,” said Johnny Ream, Stray Dog Capital. “The company’s innovative technology, combined with strategic partnerships with industry giants like Toro and Netafim, positions them uniquely to address the pressing global challenge of water scarcity in agriculture.”

“Treetoscope’s compelling value proposition for farmers, straightforward design, and attractive scalability make them a standout opportunity in the agtech space.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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