Sencrop, Europe’s most exciting company in precision agriculture through its collaborative agro-weather solutions based on micro-climate, announced a $18 million Series B fundraising round led by JVP, as part of the leading international VC fund’s climate and foodtech initiative.
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.
This round will strengthen Sencrop’s leadership in its core markets, accelerate its international expansion towards North America, and consolidate its trajectory on its journey to becoming the world leader in AgTech.
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,” says Erel Margalit, Founder and Executive Chairman of JVP and Margalit Startup City, and added, “We expect more such projects to follow in light of this important cooperation.”
He noted, “From the first time we met Martin and Michael, the company’s co-founders, we realized that this leading European company, with its next-generation micro-climate technology, has the ability to revolutionize the farmer’s world. Using AI smart solutions, like a personal Waze for the farmer’s weather conditions, the farmer can maximize his crop quality in a very short time. Our investment in Sencrop is part of our wider vision to invest in companies that provide ground-breaking solutions to the world’s most critical challenges. We are happy to join forces with Sencrop and support the team to bring its ground-breaking micro-climate technology to North America and the rest of the world markets.”