Jul 20, 2022Soiltech Wireless completes $2.5 million funding round
Soiltech Wireless, the leader in remote crop monitoring and traceability from field to transport and storage, has completed its seed funding round of $2.5 million. Leading the round was Homegrown Capital along with Great North Ventures, Capital 11, SBR Enterprises, Junto, Vynyl and the 701 Angel Fund.
These funds will help us accelerate growth,” said Ehsan Soltan, Soiltech founder and CEO. “We have worked hard to prove the concept, enhance the product, and demonstrate value to our customers. Now that we have proven this level of success at the farm gate, we will build the team to drive sales, while continuing to collaborate with customers and researchers to refine our product and software platform to deliver tangible operational, sustainability and traceability results across the agricultural supply chain.”
The Soiltech sensor boasts ease of use, arriving pre-configured, pre-charged, and ready to help farmers improve crop quality, boost yields, reduce costs, and lower environmental impact. This current round of funding will focus on developments to the Soiltech software platform to help drive collaboration across the agriculture supply chain and deliver enhanced insights to farmers, advisors, processors and input companies.
“Successful farming depends on reliable soil conditions,” Pradip Madan, Managing Partner, Great North Ventures. “With growing weather variability, measuring and managing soil conditions becomes more important. Farmers want moisture management solutions that are cost-effective and easy to deploy. Soiltech’s products provide both and are becoming popular with farmers. Over time, Soiltech’s value will grow further with other sensors and form factors.”
In addition to the leadership team based in Idaho, Soiltech has recently added team members in California, Nebraska and North Dakota and will continue to add staff as the company expands its commercial operations.