OurCrowd, Bayer set up $15 million agtech fundJun. 30, 2016
OurCrowd, the Jerusalem-based crowdfunding venture capital platform, has set up a new accelerator fund to finance early stage agricultural technology start-ups with partners including industrial and agricultural conglomerates Bayer and DuPont.
Finistere Ventures, Cloud Break Advisors and an alliance of other agricultural industry leaders are also partners in the new $15 million Radicle fund, OurCrowd said in a statement.
Radicle aims to reduce the time to develop, market, and commercialize new agriculture technologies and aims to incubate AgTech companies that can solve global farming problems, meet the challenges of productivity and sustainability, and increase the quality in food and agriculture. The fund will invest in a variety of technologies, like genomics and plant sciences, seed technology, biologicals for crop protection and regulation, the application of data and predictive analytics to precision agriculture, and disruptive or new farm systems.
OurCrowd, which already has in its portfolio agricultural companies like EdenShield, a nontoxic chemical application that protects crops from pest damage, and CropX, a software-driven smart irrigation system, will identify investment opportunities in Israel for the fund.