AgriTech Startup CODA Farm Technologies Raises $2.2M Funding To Remotely Control Irrigation System
AgriTech startup based on IoT technology wants to facilitate farmers in monitoring their crops remotely.
The AgriTech market is primarily driven by the increasing demand for enhancing crop cultivation and productivity. The integration of various technologies is giving fruitful results for farmers. According to Kenth’s market research report, the AgriTech sector is expanding at the CAGR of more than 18% during the forecast period of 2019-2025.
This is one of the main reasons that investors are steering their investments towards AgriTech startups offering innovative solutions. As recently CODA Farm technologies, an AgriTech startup has secured seed funding of US $2.2M for its novel solution that helps the farmers in remotely monitoring and controlling their irrigation system.
AgriTech startup with literal roots in Western Washington’s Skagit Valley raised this hefty amount of funding in a seed round led by Lowercarbon Capital with the participation of Voyager Capital Arnold Venture Group and Will Canine, co-founder of Opentrons Labworks.
CODA FARM technologies offer a mobile-friendly online platform to monitor and control mobile irrigation systems in real-time. Their technology helps farmers in innovative ways.
For instance, the small tracts irrigate land using the “traveling sprinkler method”-the sprinkler on the wheels is slowly pulled across the field at a steady rate. But there is a high chance that a system can malfunction as a result flooding the field and it needs to be manually turned off.
The founders David Wallace and Connor Wallace created a platform and hardware that shares irrigation data in real-time to a cell phone dashboard. The startup has sold 120 irrigation devices to 20 farms across Canada and US states.
The new funding will help the startup scale up its production of the devices, allow for geographic expansion, fund R&D and data collection. Right now, the startup has a 5-person team but aims to add more people to their team.
David Wallace said the founder of the startup said
“That’s been a big challenge for us. It always comes down to a small, obscure part.”
AgriTech startups are becoming common all around the world and are fetching huge amounts of funding. As last year a startup Glife gathered funding of $14 million.