2023-12-10 10:48:59
An Israeli Precision Agriculture Company, CropX, Acquires Green Brain in Australia
December 10, 2023
The Israeli company CropX, which operates in the field of precision agriculture and develops digital solutions for managing agricultural farms, announced the acquisition of Green Brain, a supplier of irrigation management technologies from the city of Adelaide, Australia. CropX stated that the purchase will help expand the company’s operations in Australia, a significant target market in the world of agriculture.
Tomer Tsach, CEO of CropX, stated that Green Brain’s expertise in the field of irrigation optimization fits the nature of the company. “Its leading position in the Australian market will provide us with access to a wider customer base and allow us to grow faster in the Australian market.”
As part of the agreement, 10 Green Brain employees will join the ranks of CropX employees worldwide. After the acquisition, CropX will employ a team of more than 110 employees, 30 of them in Israel and about 80 in the rest of the world, including the United States, the Netherlands, Australia, and New Zealand. The company intends to recruit additional employees to support its growth challenges and make additional purchases during the year 2024.
This is the fifth acquisition that CropX has made in five years, certainly an unusual move from a start-up company. The four acquisitions that preceded the acquisition of Green Brain are the acquisition of the Tule company from California in January of this year, the acquisition of Dacom Farm Intelligence from the Netherlands in 2021, and the acquisition of the companies CropMetrics from Nebraska and ReGen from New Zealand in 2020. In April, CropX completed a C round of fundraising in the amount of $30 million to continue the accelerated growth and financing Additional purchases. The company implements a “Buy and Build” strategy focused on precision agriculture technologies.
CropX offers a solution that combines software and hardware and provides data-driven insights to farmers in more than 60 countries. CropX’s technology helps farmers increase yields while significantly saving resources: less water, less fertilizer, less chemicals, less energy and less manpower. CropX’s system fully supports 75 different types of crops, integrates data from the ground, the plant and the sky and provides decision-making and planning tools – all offered through a friendly app.
Published in the categories: start-up companies, news, mergers and acquisitions
Posted in tags: CropX, Australia, precision agriculture
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