News and Announcements
CropLogic Raises $NZ0.5M; New Series A Round Opening Soon!
- Published September 11, 2015 10:03AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
In August 2015, CropLogic completed a successful rights issue from existing shareholders. The company’s cornerstone investor, Powerhouse Ventures, led the issue. Nearly $NZ0.5M was raised to continue both technical and commercial development and to ensure a good runway for their new Series A round, which is opening in the coming weeks. CropLogic will be raising $NZ2M.
CropLogic’s CEO, Matthew Journee, said the rights issue shows excellent support for the company’s activities. “CropLogic has been in business since 2011. The fact that we’re still getting this level of participation from shareholders shows the story is as strong as ever and we’re making great progress”.
ABOUT CROPLOGIC
CropLogic is a scientific, crop-growth forecasting system with a world-first capability to predict the response of agricultural crops to water and fertiliser input decisions. CropLogic’s algorithms deliver daily prescriptions to growers that give them the best possible yield and greatest profits.
CropLogic’s proprietary methods for aerial image and crop model correlation provides a unique way to monitor growth performance and variation over individual fields. This creates a way to offer true precision crop management without the high cost of multiple in-field sensors. Value is driven across the industry and includes; crop processors, who need accurate yield forecasts to manage supply risk, and consumer companies who want to demonstrate sustainable management.
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