Agritask Raises $26 Million to Improve Farming Practices Across the Food and Beverage Industry

By Thomas Price | Thursday, 03 February 2022 | Startup, Tech, Sustainability & Environment

Agritask is an agritech startup that provides business owners in the food and beverage industry with software to better manage their farming practices and improve current production levels. The company recently closed its Series B funding round led by Lichtenstein Group to continue growing its business into new territories.

What Agritask Offers and Ongoing Business Success

Agritask leverages “agronomic” intelligence to generate insight based on hard data to reduce risk, predict crop yields, and make adjustments to ongoing farm management techniques. The agritech startup provides business owners and farmers with an online management page that offers real-time data on the plots of farmland and the current tasks that are taken care of by workers on the land. 

Through this online management page, business owners can make more efficient work schedules and field activities based on the data to increase the productivity of its workforce.

For larger corporations in the food and beverage industry, Agritask provides long-term data insight that could affect the bottom line in years to come. By projecting the current growth trajectory of different, vital crops, the company provides better clarity on potential future supply chain issues. Additionally, the agritech startup helps corporations create standardized farming practices across multiple different farms or growing operations. 

Agritask is also beneficial for improving the long-term sustainability of farmland and reducing overall waste. This is particularly valuable for companies taking steps to become more environmentally conscious moving forward as the public begins to place a bigger emphasis on these efforts.

The agritech startup has experienced notable business growth over the last two years. The company now monitors more than 50 different crop types across over 230,000 total farms in 35 countries. These farms cover more than 2 million hectares (about 5 million acres) of land. For Agritask, this amount of land has generated over 600 million geo-referenced data points. 

The company has now created business partnerships with a number of notable brands in the food and beverage industry, such as Starbucks and Heineken. The agritech startup also provides its software to ag-insurance companies and government organizations.

Agritask Funding Round and Plans for Company Growth

In its Series B funding round, Agritask raised $26 million in capital. Alongside Lichtenstein Group, the round also saw participation from Bridges Israel impact investment fund, Smart Agro Fund, and the Insuresilience Investment Fund. The company has now raised a total of $35.1 million according to CrunchBase. 

Agritask plans to use the new funding to continue expanding business internationally by hiring a larger international team of employees. The agritech startup also plans to invest in its current technology to increase the number of features available. Other plans include scaling up current marketing and sales efforts around the globe. 

When commenting on the latest funding round, Agritask CEO Ofir Ardon said, “Liechtenstein Group has been investing in sustainable, innovative businesses for generations, and it's wonderful to see our vision and approach validated by them, along with new and returning co-investors. We are seeing the Food & Beverage industry spearheading a radical change in the agri-food supply chain, increasing their engagement with and support of farmers to move to sustainable and regenerative agriculture. Technology and data play a key role in creating transparencies across the agri-food ecosystem, and Agritask is in a unique position to lead the way. We are looking forward to growing our team and scaling up our work with the world's leading brands.”

About the Author

Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.