Israeli agtech firm Viridix, which develops precision irrigation solutions, announced it has received a $400K grant from the Israel Innovation Authority (IIA). The grant will help accelerate and enhance development and distribution of the Israeli firm’s AI-powered remote sensing technologies.
“This is an exciting time in the growth of Viridix and the support of the IIA for the 3rd time will help accelerate our plans. The partnership with IIA is a strong indication of the Israel Innovation Authority’s commitment to the success of Viridix. Our ability to execute on global partnerships with some of the largest players in the irrigation industry will increase with this grant.”
As global population experiences constant increase, food supply chains will have to quickly adapt, and it all starts with the farmers. Agtech company Viridix deploys an AI-driven system that provides the modern farmer with an autonomous tool (RooTense) aimed at saving water and lowering costs, while producing - what the company claims - a higher quality crop yeild. Through development and collaboration Viridix offers a complete automated system that requires little to no initial set up, but rather continuously learns and self-adapts.
The company explains that its product can be adapted to 70% of the world’s fresh water, meant for agricultural irrigation. Viridix’s software-hardware solution starts with a sensor deployed in the field (literally), accumulating data and measurements of soil condition, plant needs, and more. Then the company’s machine learning algorithms respond with insight towards optimal crop growth, with the data broken down to sectors of the field and even to specific crops. According to the company, farmers that utilize its solution will see a 20% increase in crop yield and a reduction in water and fertilizer usage by up to 50%.
”The Israel Innovation Authority is a great partner to work with and has added tremendous value to Viridix both through grant funding as well as technical and commercial expertise. Playing a part in solving one of the world’s top problems is both gratifying and significant," explains Gili Elkin, General Partner at Israel-Colorado Innovation Fund.