Spherag closes an investment round to reduce water and energy consumption in the agricultural sector
Spherag’s solution reduces water and energy consumption in the agricultural sector by up to a third, reducing costs for farmers.
Founded in 2020, it already has a presence in 15 countries, more than 450 agricultural operations and covers an area of about 50,000 hectares.
Zaragoza, September 5, 2022. Spherag , the Aragonese startup that speeds up access to technological solutions for farmers and allows reductions of up to a third of water and energy consumption in the agricultural sector, has recently closed an investment round to continue helping farmers through its Internet of Things (IoT) platform to convert their farm into a digital, intelligent and sustainable facility.
The Barcelona impact venture capital firm Ship2B Ventures -through BSocial Impact Fund, the largest impact fund for startups in Spain supported by the EIF, Banco Sabadell and AXIS-, together with the venture capital firm Bonsai Partners and BayWa Venture GmbH, the investment arm of the leading German company in renewable energy solutions, has led the investment round that will allow it to expand operations and develop new functionalities in the area of precision irrigation for urban use.
The company founded in 2020 already has a presence in more than 15 countries and has more than 450 agricultural operations from Australia to the United States to digitize and automate an area of about 50,000 hectares. “Combining technology with comfort and ease of use is what distinguishes our solution, which already has a presence in Australia, the US, Italy, Germany, Switzerland or France, among others,” explains Jesús Ibáñez, CEO of Spherag.
According to Marc Sabas, director of investments at Ship2B Ventures, “Spherag offers a clear and direct value proposition for farmers, allowing them to reduce time and costs while reducing and optimizing the use of water, a scarce resource, for irrigation. . The traction the team has gained to date is remarkable, thanks in part to the team’s experience in the agricultural world and their knowledge of the dealer network to get Spherag to any field in any country.”
According to Martí Escursell, managing partner at Bonsai Partners, “Spherag perfectly meets what we are looking for in our investments: a disruptive technological solution in terms of costs and functionalities that has achieved very clear global adoption in a very short time, in a huge market and with a lot of “momentum” and led by an entrepreneurial team with a lot of experience that has come here with a very efficient use of capital”.
Regarding the effort involved on the part of the farmers, Ibáñez points out that integrating IoT modules takes very little time. “A typical irrigation system consisting of ten valves, a pump and a mixer can be automated in one morning and with this the system already offers a great advance in sustainable field management.” The company, which currently has 12 employees, continues to work on improving the solution that “in the future will provide new features for farmers such as managing irrigation remotely using their smartphones instead of opening and closing each of the valves by hand”, concludes Ibáñez.