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Seed-X Technologies raises $10M in Series A fundingqrcode

Jun. 13, 2022

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Jun. 13, 2022

Israel  Israel

Seed-X Technologies, a US and Israel-based agri and food tech startup, closed a $10M Series A funding.

The round, which brings Seed-X’s total funding raised to date to $20 million, was led by iAngels with participation from Neva SGR, a part of Intesa Sanpaolo Group, and Champel Capital.

The company intends to use the funds to accelerate its development, expand the market reach of its AI-powered seed sorting technology, and collaborations and partnerships towards future solutions for the food industry.

Founded in 2018 by Moti Shniberg and Sarel Ashkenazy, as part of Nacre Capital, a global venture builder Seed-X has developed image-based technology which integrates AI, machine vision and deep-learning algorithms to optimize seed and grain sorting at the single seed and grain level.

The company operates out of California, with offices in the Netherlands and Israel and serves over 50 customers worldwide. Seed-X was recently selected out of hundreds of candidates, to join the RisingFoodStars Network of the European Institute of Innovation, in order to support the development of the company’s AI solution for the grain (food) industry.

In October 2021, Seed-X announced the signing of a collaboration agreement with Petkus, a global manufacturer of seed and grain optical processing machines, to develop, manufacture, and distribute next generation sorters powered by Seed-X’s proprietary AI technology.

Source: FinSMEs


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