In the News
- N-Drip has raised $44 million in a Series C funding round led by Liechtenstein Group to expand its global reach.
- The agritech firm offers a technology-driven micro-irrigation solution as an alternative to unsustainable flood irrigation, allowing precise irrigation, water savings, reduced fertiliser use, increased farm yield, and lower greenhouse gas emissions.
The Story
Israeli’s smart irrigation development platform, N-Drip, has raised $44 million from a Series C fund round to expand its global penetration. The financing round was led by the Liechtenstein Group, and had in participation, the US investment management firm, Hamilton Lane and water tech investor, Natural Ventures. Also joining the funding round were existing investors, Granot Group, Bridges Israel Impact Fund, Kibbutz Ein Harod Ihud, and a group of US-based investors.
Based in Beit She’an, N-Drip was founded in 2015 by Prof. Uri Shani, a former director of Israel’s Water Authority, with Ariel Halperin and Ran Ben-Or, as an alternative to flood irrigation. The agritech company uses technology to provide precise irrigation to farmlands. N-Drip asserts that it is the first and only micro-irrigation solution powered by gravity.
Flood or furrow irrigation is a common irrigation system where farmers allow water through their crops, down small trenches. This irrigation system is unsustainable, as water is lost to evaporation or infiltration of uncultivated areas, and excessive fertiliser is used for production. N-Drip posits that their technology ensures sustainability, as farmers can save water, reduce fertiliser application, and increase farm yield. There would also be a reduction in greenhouse gases like methane and carbondioxide.
N-Drip revealed that the funding round is likely to expand in response to investors’ demands. N-Drip CEO, Eran Pollak said, “The current funding round will support the company’s rapid growth at the same time as a global water crisis has farmers and policymakers looking for solutions that will allow them to continue to grow food and fiber, although with less water.”
N-Drip recently announced an agreement with Liechtenstein-owned RiceTec, one of the world’s largest producers of hybrid rice seeds, for the marketing of its systems in rice fields in the US, India, and elsewhere. Liechtenstein CEO and Managing Partner, Johannes Meran, shared that the partnership between N-Drip and Liechtenstein will improve rice cultivation, and reduce the carbon footprint of rice farming.
N-Drip remarks that it has clientele in 17 countries, with three main business centres in Australia, India, and the US. So far, N-Drip has raised around $80 million in total, from investors in the US, Europe, and Israel.
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