Agritask announced the completion of a $ 26 million round of funding

Agritask, which developed a system that connects food producers to farmers, today (Thursday) announced the completion of a $ 26 million round of funding. The round was led by The Liechtenstein Group, a venture capital fund of the Liechtenstein Principality that specializes in agricultural investments, and was attended by the Insuresilience Investment Fund, the Smart Agro Fund, the Impact Bridges Israel Investment Fund and EIT Food. The current round brings the total capital raised by the company since its inception in 2010 to $ 35 million.
Agritask has developed a system that allows the food manufacturer to communicate with farmers and monitor the growing process. The manufacturers enter into a growing protocol system which updates the farmer in real time what to do; And for their part, to know at any given moment what the condition of the tumors is. In this way the producer is able to anticipate the volume of agricultural produce expected of her.
Agritask's system knows how to connect to three sources of information: an app where the farmer enters the data; Satellite systems that provide weather forecasts; And field farming systems, such as tractors and an inventory management system used by the farmer.
The company's customers include the American coffee shop chain Starbucks, the maker of Heineken beers, and agricultural insurance companies such as Zurich Insurance and MAPFRE Insurance. And it is mainly competed by companies in the field of supply chain such as the Indian company Corfin.
The company was originally founded in 2010 by Israel Sucker (a director of the company); Andrew Steinin (VP of Technology), and Yuri Magrisso, who passed away. However, its product was released only eight years later, in 2018, and is managed by Ofir Ardon.
Agritask currently employs about 70 people, of which about 40 are in Israel. In the new capital the company intends to increase its marketing efforts and the number of employees, especially the data analysis team.