LONDON & BASEL, Switzerland & TEL AVIV, Israel--(BUSINESS WIRE)--Phytech, a global leader in Ag analytics and data management solutions, announced today the closing of an investment led by existing investors, Syngenta Ventures and Mitsui & Co Europe.
Phytech's PlantBeatTM technology is a simplified,
alert-driven mobile platform which combines predictive algorithms and
data analysis tools that integrate continuous crop health and supportive
environmental data, distilled into real-time recommendations. Phytech is
helping growers in their day-to-day farming decisions impacting both the
quality and yield of their crops, while reducing water usage.
Phytech’s technology is deployed by world leading growers in the U.S, Brazil, Australia and other markets and in a large variety of specialty crops and row crops, directly and through partnerships with global leading CP partners.
The investment will fund the expansion of Phytech’s technology platform and support the company’s continuing commercialization globally.
“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.
Dr. Michael Lee, Managing Director at Syngenta Ventures - “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. 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 “.
“Investing in Phytech meets our consistent strategy for innovative technology and new business development” says Mr. Masato Hisamune, SVP & DOO of Innovation and Corporate Development Division at Mitsui & Co. Europe. “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.”
About Phytech: Phytech is a leading Precision Ag analytics
company, focused on helping farmers to optimize yields by transforming
real-time plant data into actionable, yield-enhancing recommendations.
Phytechs' proprietary PlantBeatTM platform combines
continuous plant monitoring hardware, spatial imaging, hyper-local
climate information, agronomic modeling, data analysis and web and
mobile software applications that help farmers improve profitability by
making better informed in-season operating decisions.
For more information, visit http://www.phytech.com.
About Syngenta Ventures: Syngenta Ventures is the venture capital
arm of Syngenta. The firm invests globally in innovative businesses
whose purpose helps "Bringing plant potential to life".
The firm's mission is to accelerate the rate of innovation in agriculture to support Syngenta's vision of increasing farm productivity by growing more crops from fewer resources. For more information, visit http://www.syngenta.com.
About Mitsui & Co. Europe: Mitsui & Co. Europe Plc is the subsidiary company of Mitsui & Co., Ltd., one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 140 offices in 66 countries as of August 1, 2015. Utilizing our global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, IT & Communication and Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world. For more information, visit http://www.mitsui.com.