Greeneye Technology receives US$20 million investment to expand operations

Israeli Greeneye Technology announced the completion of a $20 million funding round led by investment company Deep Insight. The contribution included the participation of already established investors such as Syngenta Group Ventures, JVP, Orbia Ventures and Eyal Waldman, founder and former CEO of Mellanox (currently part of Nvidia), as well as new prominent investors, including Iron Nation and Amol Deshpande , founder and former CEO of FBN. As part of today's announcement, Barak Ben Eliezer, Managing Partner at Deep Insight, was welcomed to Greeneye's Board of Directors.

According to company information, the investment will be used to significantly expand Greeneye's operations in the United States, advancing the technology's analytical capabilities and expanding its use to new inputs and crops. The next phase of expansion will include the implementation of dozens of new systems in farmers' fields later this year, targeting 200 million acres of corn, soybeans and cotton.

Greeneye's mission is to reduce pesticide use. The product of their work uses artificial intelligence (AI) in combination with cutting-edge hardware to identify weeds among crops with high accuracy and spray chemicals only where they are needed – directly onto the weeds. It is designed to integrate with any make, model or size of commercial sprayer, allowing farmers to seamlessly transition to precision spraying without having to invest in an expensive new sprayer. Additionally, its dual line/tank configuration allows you to perform precision and diffusion spraying simultaneously, increasing both productivity and effectiveness.

Nadav Bocher, CEO of Greeneye Technology, commented: “Raising this round of capital in today's challenging economic climate is further validation of Greeneye's mission to drive widespread adoption of precision spraying technology in the U.S. and ultimately throughout the world. world. We are delighted to welcome our new investors and would also like to thank our existing partners for their continued support. Together, we will continue to push technological boundaries to solve farmers’ critical challenges, overcome environmental challenges, and protect farmland for future generations.”

Barak Ben Eliezer, Managing Partner at Deep Insight, stated: “Our mission is to invest in disruptive technologies and ambitious leadership teams that have the potential to solve the world’s biggest challenges, and Greeneye fits perfectly into this category.”