Israeli-based AgTech startup Growee has secured an undisclosed investment from several respected impact angel investors, the Israeli Innovation Authority, and the Israeli Ministry of Economy. The company is renowned for its innovative technology tailored to small-scale hydroponics growers and has distributed its products in over 20 countries. With this new round of funding, Growee is preparing for expansion into the North American market.
In contrast to many AgTech firms primarily servicing large commercial growers, Growee provides a unique hardware and software platform specifically designed for small-scale cultivators. This includes urban hydroponic and vertical farmers, educational and research facilities, container farms, and home growers.
The platform integrates proprietary Internet of Things (IoT) and analytics technology to continually monitor and balance water chemistry, a critical factor in optimizing plant growth. All collected data is managed via the Growee cloud, providing real-time insights and control to growers through the Growee App.
Idan Avitan, CEO and co-founder of Growee said, “Growee is dedicated to offering sustainable, easy-to-use tech solutions for small-scale growers. The micro hydroponics farm market is an emerging sector that supports urban farming growth. We are privileged to support the journey of millions of home and small-scale growers. Setting up a new distribution center in Florida is a significant step towards making our solutions more accessible to urban farmers in the US, and we plan for additional locations to align with the growing demand in the urban farming and small-scale hydroponics market.”
Recent years have seen considerable growth in the hydroponics market and urban farming sectors. As a result, Technavio predicts that the vertical farming technologies market share will rise to USD 8.52 billion from 2021 to 2026, with the market's growth momentum accelerating at a compound annual growth rate (CAGR) of 24.74%. This expansion underscores the growing interest in sustainable farming practices and local food production, particularly in urban environments.
According to Avitan, “Hydroponics represent the future of both urban and vertical farming. Still, small-scale growers face the tedious and error-prone task of manual water monitoring and adjustment. Growee's automated hydroponics system streamlines this process, enhancing efficiency and boosting hydroponic yield, as attested by customers worldwide.”
The AgTech startup's penetration into the US market begins with establishing a distribution center in Florida. This significant milestone in the company's US expansion strategy has been supported by two prestigious grants from the Israeli Ministry of Economy.
The company also plans to contribute to the local community. Avitan, a former combat fighter and Israeli Defense Forces' Special Forces commander announced a Military Service Benefits Program to support the veteran community. He commented, “I've experienced how growing can help heal the soul, whether through food or medicinal plants.”
As Growee's hydroponics automation solutions become increasingly available to growers, the company has adapted its platform to cater to various needs. Their IoT platform can support anything from 1 to 5,000 plants, offering solutions for home hydroponics growers and larger hydroponics farms. In addition, the system's modularity allows for extensive customization, catering to various growing conditions and scales.
Image provided by Growee
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