Hortau Secures $10 Million Investment to Fund North American Growth
- by Christofer Oberst
SAN LUIS OBISPO, CA – A $10 million investment has given precision irrigation management system provider Hortau the extra boost it needs to further its growth in the North American market.
“This recent investment will allow us to continue making our platform better, following our mission to deliver more value for growers,” said CEO Jocelyn Boudreau. “Along with more direct field support, this coming year will see more groundbreaking features added to our hardware and software, such as advanced data analytics tools, powerful dashboards, responsive data reporting as well as new partnerships that will give our platform added versatility.”
The $10 million U.S. investment comes from a group that is led by Advantage Capital Agribusiness Partners, LP (ACAP), and joined by BDC Capital, Inc., and repeat investors Avrio Ventures LP II and Capital régional et coopératif Desjardins, according to a press release.
This is the third major round of financing in the past 20 months for Hortau.
“From the beginning, Hortau has demonstrated innovation in creating solutions for water conservation and drought, all of which provide vital information to farmers,” said Timothy Hassler, Principal at Advantage Capital. “We are excited to kick off the New Year with this additional investment in Hortau and look forward to supporting the company’s growth.”
Hortau’s proprietary irrigation management system and easy-to-use mobile software tells growers how their 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, and environmental impacts.
“Hortau has built a world-class platform in delivering best-in-class precision agriculture systems to clients,” said Aki Georgacacos, a founding partner of Avrio Capital. “We are thrilled to have secured support from Advantage Capital Agribusiness Partners and BDC as we move to continue to consolidate Hortau’s global leadership position in the sector.”
As we previously reported, Hortau’s smart irrigation management system was recently named to the Global Cleantech 100 Companies to Watch list, which highlights upcoming companies that are best positioned to solve tomorrow’s technology challenges and have the greatest impact on the market.
Looking forward to the rest of 2016, Hortau anticipates expanding into additional regions and further growing its technical, grower support, and R&D teams.