Treetoscope Closes the Latest USD 7 Million SEED Fundraising Round

Tel Aviv, Israel – September XX, 2023 – Treetoscope, an innovative start-up in precision irrigation management, has announced the successful completion of its latest SEED fundraising round, securing vital funding amounting to USD 7 million. Leading the way in this round is the Champel Capital venture capital fund, a leading European-Israeli fund focusing on impact technology investments, together with other strategic investors notably including Leon Recanati's GlenRock fund, SeedIL, and YYM-Ventures 

“We are thrilled to announce the successful completion of our latest fundraising round, securing critical funding totalling USD 7 million. This achievement propels our vision as a pioneering startup in precision irrigation management and our dedication to mitigating global water scarcity. The new funding will enable us to expedite our research program and to grow, improve, and carry out our mission to provide the tools for sustainable water usage more effectively,” said Dotan Eshet, CEO of Treetoscope.   

Solution for Sustainable Farming and Water Crises 

According to the OECD, agriculture stands at the forefront, accounting for a staggering 70% of freshwater withdrawals worldwide. Furthermore, it is projected that this demand will surge by up to 60% by 2025. Consequently, water prices, especially for agricultural usage, are on the rise, placing additional strain on farmers who already operate with narrow profit margins.   

“As we confront the pressing impacts of climate change and population growth, it becomes evident that sustainable water management in agriculture is paramount. Saving 2% in global agriculture water consumption is equivalent to the water consumption of all the residents of the United States in one year. With our technology, farmers can save approximately 30% in irrigation expenses, increase the yield, as well as weighted profit of the farmers in Europe and the US, by ~$32 billion per year”, continued Dotan Eshet. 

World’s First Plant-based Irrigation Technology 

Treetoscope is the world's first plant-based irrigation SaaS platform that provides unprecedented accuracy in measuring the real-time actual water of key crops by using patented in-tree sensors integrated with satellite imagery support.  

The innovative Treetoscope-developed system provides farmers with advanced irrigation insights while applying Artificial Intelligence technologies and utilizing innovative sensors developed by the company to measure plant water consumption in real-time. Treetoscope provides farmers with an easy-to-use kit, complete with simple installation instructions for the innovative sensor system.  

The Treetoscope platform employs AI to process the gathered data, including insights into water flow within the plant stem and the tree's stress levels. Through a dedicated app, farmers can then precisely control irrigation, ensuring their plots receive just the right amount of water required for optimal growth. 

“By understanding when their crops need water the most and tailoring irrigation accordingly, farmers can maximize yields while using less water. This approach not only enhances agricultural sustainability but also enables us to address global challenges stemming from climate change,” said Dotan Eshet.   

This innovative product dramatically cuts water usage for farmers, with evidence showing water usage reductions of 25% to 42%. 

“Treetoscope has developed a unique solution to one of the most painful problems in the worldwide food chain, where fresh water is becoming a rare, expensive commodity," - declared Amir Weitman, managing partner at Champel Capital. "We are proud to partner with the company make solutions available to farmers to save significant amounts of water and create a genuine impact in the world."  

Treetoscope Achievements  

To date, the company, has secured over USD 10 million in total investments, which includes grants from the Israel Innovation Authority and Bird, a joint Israel-US government fund.  

The company has collaborated with renowned research institutes in the USA, Spain, France, and Israel to establish multiple showcases for irrigation systems. This collaboration has yielded exceptional returns on investment (ROI) and resulted in many farmers becoming paying customers, underlining the effectiveness and value of Treetoscope technology. Treetoscope’s collaborations include: 

• In North America, Toro Company, the largest water irrigation equipment firm has partnered with Treetoscope and co-branded the innovative sensor. This collaboration has led to the successful launch of sales in the USA and Mexico, marking a significant milestone for the global expansion of the company. 

• In Turkey, Oyak – Hektas, the country’s largest agricultural conglomerate, completed a highly successful pilot and are launching a sales campaign in Turkey. 

• In France - Invivo, the largest French company for farming equipment, was introduced to Treetoscope by Netafim, global leader in irrigation solutions for a sustainable agriculture. Invivo will launch a joint product in 2024. 

• In Spain – the Spanish Wine Federation (FEV), comprised of 750 Spanish wine grape growers will begin deploying Treetoscope across the organization in 2024. 

• In Italy – Apple and pear trials at Aquacampus, the R&D branch of Canale Emiliano- Romagnolo, the main water-delivering infrastructure in the Po Valley. Citrus tree trials with irritec, a major Italian irrigation company. 

Treetoscope's 20 employees are based in Israel and in key markets around the world. In keeping with the company's vision, its offices are located at the Netter Innovation Center outside of Tel Aviv, recently inaugurated in Mikve Israel, Israel’s pioneer agricultural school. 

For more information on investment opportunities and to learn how you can partner with Treetoscope, please contact XX. 

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Treetoscope, established in 2020, is an Israeli company that developed breakthrough technology for direct plant monitoring. The company offers its innovative services to farmers in North America, Europe, and the Middle East, helping them reduce production costs, increase yields, and optimize their water resources. Treetoscope is currently expanding its activities to new territories and more crops. Visit www.treetoscope.com to learn more. 

Champel Capital is a venture capital fund that invests in Israeli startups in the realms of foodtech, agritech, medtech, industry 4.0, fintech and traffic. To date, the fund has made 21 investments, yielding 4 exits and 1 unicorn – Lemonade. Champel Capital is headed by partners Amir Weitman and Arié Benguigui, who have been investing in the Israeli venture capital scene since 2017. The Fund’s advisory committee consists of serial entrepreneurs, investors, educators and leading individuals in the ecosystem: Eyal Waldman, Prof. Omer Moav, Prof. Raoul Bino, Eyal Orion and Hillel Fuld.