Micro-climate technology developer Sencrop announced Monday that it has completed an $18 million Series B fundraising round under the auspices of leading Israeli venture capital firm JVP. The latter assisted Sencrop's effort as part of its climate and food tech initiative.
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EIT Food - supported by the European Union, Stellar Impact - managed by Telos Impact, IRD Management and Sencrop's existing shareholders – including BPIfrance, Demeter IM and NCI Waterstart – are also taking part in the transaction.
Since its creation in 2016, the collaborative precision farming solution, Sencrop, has been helping farmers limit their crop risks and make better day-to-day decisions for greater comfort, better yields and controlled environmental impact with a clear mission, to make precision farming accessible to all. In six years, the ag-tech start-up has become Europe's leader in field-connected solutions for all types of crops.
"The move comes as part of wider cooperation between the French Government's official investment arm, BPIfrance, with JVP and Israel in general, as part of a win-win strategy between our countries. President Macron has expressly welcomed this along with France's Finance Minister Bruno Le Maire," said JVP Founder Erel Margalit. "We expect more such projects to follow in light of this important cooperation."
Co-founder Martin Ducroquet said, "Sencrop's mission is to democratize precision farming and reduce crop risks for farmers. ... The fundraising, led by JVP, opens up new prospects for international acceleration that will be supported by new impact investors, specializing in climate-tech."
