Top Sensor Manufacturers make strategic investment in CropX

CropX recently announced that the sensor manufacturing company—Robert Bosch Venture Capital GmbH (RBVC) and the Flex technology accelerator, Lab IX—have invested in the company. Already serving 20 top farms across the United States, CropX plans to use the strategic partnerships to accelerate product development and rapidly expand market adoption. In tandem, CropX also unveiled a new version of its proven soil sensors that reduces installation time.

“The CropX adaptive irrigation platform has become a core component of our business model and has had an enormous impact on our bottom line – in water and fertilizer cost savings, as well as in crop yield improvement. The ability to cost-effectively automate the entire irrigation process, from data collection to actual irrigation, is a game changer as leaders in the agriculture industry look to increase sustainability, productivity and crop yield,” noted Jon-Michael J. Nahon, managing principal for Integrated Ag Financial. “With CropX, farms can start small and quickly scale thanks to the platform’s flexibility.”

CropX’s disruptive Innovation helps farmers better understand water usage across their fields. Its soil sensors can increase crop yields while simultaneously cutting water usage by one third. In just one irrigation season, CropX sensors were installed on thousands of acres of all major row crops and demonstrated its value, with early customers across the United States reporting solid water, manpower and cost savings, as well as crop yield gains.

RBVC, the corporate venture company of the Bosch Group, invested in CropX due to its breakthrough do-it-yourself soil sensor technology, scalable IoT platform, powerful analytics and low-barrier, SaaS business model. It invests worldwide in innovative start-up companies at all stages of their development, focusing on technology companies working in areas of current and future relevance for Bosch, above all automation and electrification, energy efficiency, enabling technologies, and healthcare systems

Jan Westerhues, Investment Partner at Robert Bosch Venture Capital, added, “CropX gives farmers a fast and simple way to know the exact water needs and best irrigation plan of different parts of each field. Its pay-as-you-go service model makes it easy for farmers to quickly test the platform, realize its value and scale across more fields, crops and farms.”

Global drought conditions are exacerbating the current food-shortage crisis. Farmers are facing tough commodity prices and cannot afford to invest tens of thousands of dollars in expensive AgTech solutions. From drones to on-farm weather stations, farmers now have a variety of options to consider when taking the leap into the technology-driven era of farming. However, digital agriculture and precision irrigation solutions to date have either been extremely high cost or disappointingly low value. CropX is entering the digital-ag game by offering a precise irrigation solution that can drive return on investment.

The company’s Series A financing, which was extended from $9M to $10M to accommodate investor interest, is now closed. Leading AgTech investors Finistere Ventures, Innovation Endeavors, GreenSoil Investments and OurCrowd welcomed the addition of RBVC and Flex into the oversubscribed round due to their sensor manufacturing leadership. The funding will support the company’s continued growth and product development, including advances in nutrition, plant protection, planting and harvesting. Jan Westerhues of RBVC will join the Board as an observer. In addition, Katharine Gregorio is now advising the company based on her former work with Cargill and The Climate Corporation.