Smart Agro R&D Partnership today announced its fourth investment since its Initial Public Offering on the Tel Aviv Stock Exchange (TASE) last year. The partnership is investing $1 million in the $5 million financing round raised by FruitSpec, which will allocate to the Partnership Senior A shares, giving a stake of about 5.8% of the capital of the shares allocated by the company.
Investors in the company in the current $5 million financing round include US investment fund Ocean Azul Partners, European investment fund Amathaon Capital, Agriline (a trust of which Vincent Tchenguiz is a discretionary beneficiary), and Trendlines.
Israeli startup FruitSpec, founded in 2016, has developed a system for managing early estimation of fruit yields, allowing very accurate forecasts of production of fruits in the orchards, at a relatively early stage in the cultivation process. This makes the fruit supply chain more streamlined and brings fresh fruit to retailers in the most efficient way.