Ag Tech Investments News
Ag Tech Investment: Hortau Secures $10 Million Investment.
SAN LUIS OBISPO, Calif. (Feb. 4, 2016) – Since 2002, Hortau, a provider of precision irrigation management systems and services, has secured $10 million in financing to fuel company growth and broaden its service offering to growers in North America.
The investment is the third major round of financing in the past 20 months for Hortau, establishing itself as a proven leader in precision irrigation management for agriculture.
The $10 million U.S. investment comes from LP (ACAP), and joined by BDC Capital, Inc., a group that is led by Advantage Capital Agribusiness Partners, and repeat investors Avrio Ventures LP II and Capital regional cooperative Desjardins.
In 2015, Hortau launched a new line of ST irrigation management systems which is an upgraded automation platform and significantly upgraded its software and mobile applications.
Hortau CEO Jocelyn Boudreau said “This recent investment will allow us to continue making our platform better, following our mission to deliver more value for growers, this coming year will see more ground-breaking features added to our hardware and software.”
Hortau will further grow its technical, grower support and R&D teams in 2015, to remain at the forefront of crop stress and irrigation management technology. A founding partner of Avrio Capital, Aki Georgacacos said, “Hortau has built a world-class platform in delivering best-in-class precision agriculture systems to its clients.”
Hortau’s smart irrigation management system, combined with its easy-to-use mobile software, reports to growers how crops are faring in real time. This plant-centric approach helps detect plant stress using soil tension, ensuring optimal crop growth, and reducing water and energy consumption, as well as environmental impacts such as fertilizer leaching.
Principal at Advantage Capital, Timothy Hassler said, “From the beginning, Hortau has demonstrated innovation in creating solutions for water conservation and drought, all of which provide vital information to farmers.”
Focus of Advantage Capital Agribusiness Partners, LP (ACAP) is a $154.5-million fund, licensed as a Rural Business Investment Company (RBIC) by the U.S. Department of Agriculture (USDA), is on businesses involved in the production, processing and supply of agricultural products.