Ag Tech Investment News
Yuanda to invest in Israeli AgTech Startup
Chinese corporation Yuanda purchased 54% of the Israeli agricultural technology startup AutoAgronom, it was about a year ago, which has developed an innovative autonomous irrigation technology.
To expand the controlled irrigation systems of AutoAgronom to hundreds of thousands of hectares in different regions of China, the company has announced an investment by the Chinese giant of 180 million US dollars. On top of that, For the Chinese market, the company will build a factory in China to manufacture its control systems and drip irrigation technology specifically.
In the year since Yuanda initially purchased a portion of AutoAgronom, the company had been conducting experiments in three different plots of a few hundred hectares, which were monitored by Chinese authorities. The results of these experiments showed a double digit percentage increase in crop yield coupled with savings of 50% of the water used to irrigate.
The technology developed by AutoAgronom works as it collects data straight from the roots of the plants in the field and sends the data in real-time. This system allows key parameters about the plants to be constantly monitored and enables an active management method to ensure optimal growth conditions at all times. The company states that their system leads to higher yields, decreased water and fertilizers consumption, healthier plants that are more resistant.