Phytech, a global leader in ag analytics and data management solutions, announced the closing of an investment led by existing investors, Syngenta Ventures and Mitsui & Co Europe.
Phytech’s PlantBeat technology is a simplified, alert-driven mobile platform which combines predictive algorithms and data analysis tools that integrate continuous crop health and supportive environmental data, distilled into real-time recommendations. Phytech is helping growers in their day-to-day farming decisions impacting both the quality and yield of their crops, while reducing water usage.
Phytech’s technology is deployed by world leading growers in the U.S, Brazil, Australia and other markets and in a large variety of specialty crops and row crops, directly and through partnerships with global leading CP partners.
The investment will fund the expansion of Phytech’s technology platform and support the company’s continuing commercialization globally.
“We believe that the support of leading global strategic investors such as Syngenta and Mitsui would allow Phytech to significantly enhance its decision support, cutting edge technology and innovation as well as its commercial development,” says Sarig Duek, Phytech’s CEO.
Dr. Michael Lee, Managing Director at Syngenta Ventures, said, “Syngenta’s ambition is to bring greater food security in an environmentally sustainable way to an increasingly populous world by creating a worldwide step-change in farm productivity. In working towards our ambition, we put the grower at the center of everything we do. Phytech’s grower centric solutions join our breadth of technologies in crop protection, seeds, traits and seed treatment, providing the grower with integrated offers and broad-based innovation for the future.”
“Investing in Phytech meets our consistent strategy for innovative technology and new business development” says Mr. Masato Hisamune, SVP & DOO of Innovation and Corporate Development Division at Mitsui & Co. Europe. “We would like to provide Phytech with services and solutions that meet their diverse needs, optimizing Mitsui’s global marketing networks and extensive business experience.”