Software company Agritask announced on Thursday that it has secured a US$26M funding round led by Liechtenstein Group. The Liechtenstein group is joined by Bridges Israel impact investment fund, Smart Agro Fund, and existing investors including The Insuresilience Investment Fund.Agritask is a SaaS Agronomic Intelligence (AgI) platform that addresses the impact of climate change on global food systems. Yield reduction and volatility patterns in food crops are compromising and, at times, breaking supply chains across the industry.
This, combined with growing concern for farmer communities and the environment by both manufacturers and consumers, is pushing the industry to adopt solutions that will help them in the transformation towards predictable and sustainable supply chains and production practices.
Agritask has seen significant growth and adoption by world-leading Food & Beverage companies over the past few years. Brands such as Starbucks and Heineken use Agritask to minimize risk and better predict supply chains, optimize farming operations, and ensure sustainable farming and sourcing practices.Agritask has also partnered with leading ag-insurance companies including SCOR, Zurich, and MAPFRE to extend their portfolio of insurance products. Agritask is able to provide hundreds of thousands of small-scale farms in developing countries with access to technology, farming best practices, and agriculture insurance products that improve the livelihood of farmers worldwide by working with clients across the agri-food ecosystem.“We were very impressed with the traction that Agritask has already achieved globally, as well as their people, vision, and strategy,” reported Constantin Liechtenstein and Johannes Meran, Managing Partners of Liechtenstein Group, “We are actively looking for sustainable and innovative business models to invest in and we see that Agritask can play a key role in securing the future of food production and impacting the lives of millions of farmers.”“Liechtenstein Group has been investing in sustainable and innovative businesses for generations and it’s wonderful to see our vision and approach validated by them, along with new and returning co-investors,” said Ofir Ardon, CEO of Agritask.
Technology and data play a key role in creating transparencies across the agri-food ecosystem and Agritask is in a unique position to lead the way. We are looking forward to growing our team and scaling up our work with the world’s leading brands," he added.