Ag Tech News
SWAN Systems Successful Capital Raise
19 May 2022- The team at SWAN Systems is very pleased to announce the completion of its A$3million capital raise. The funds will be used to build momentum on recent work in various export markets including the US, Mexico, Chile and Zimbabwe where SWAN is involved in a number of large irrigation projects and is developing key business relationships to fast track its growth objectives. Funding will also help consolidate its operations in Australia and New Zealand where a solid customer base reflects the strong demand for SWAN’s unique software that optimises irrigation and nutrient applications.
Investment has been sourced from strategic providers including AC Ventures out of Perth and PureTerra Ventures based in The Netherlands. PureTerra has a global mandate with a focus on supporting innovative water solutions across a broad range of sectors. AC Ventures’ mandate is across Australia with a particular focus of companies that have been through the Federal Government’s Accelerated Commercialisation program and have transitioned to “scale up” mode.
Nic Pannekeet from PureTerra said, “Given 70% of the world’s water is used in agriculture we have a clear focus on investing in companies that are creating superior efficiency and environmental outcomes. SWAN’s unique product has proven its capability to optimise and manage large scale irrigation businesses that result in strong economic and social license outcomes”.
Larry Lopez from AC Ventures added, “The team at SWAN Systems have developed a product that is addressing a key farming challenge to do more with less. The founders have extensive lived experience in the agricultural sector and this deep domain knowledge and expertise has created a product with enormous global potential”.
Tim Hyde CEO of SWAN Systems stated, “We are very excited to expand our shareholder base with such strategic partners that bring business acumen and global networks along with strong balance sheets. The transition from a Perth based start-up to a global player is much more achievable with the support from groups with experience and financial capacity”.