Orbia invests US$3 million in agrotechnology company
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MEXICO CITY – Construction, agriculture, healthcare and data communications solutions firm Orbia invests US$3 million through its venture capital fund in the agrotechnology company SeeTree.
In a statement, the firm said that part of the business strategy is to promote innovation for its integration into daily activities. Through the corporate venture capital fund Orbia Ventures, it promotes the most innovative technology focused on technologies that the company develops: precision agriculture, construction and infrastructure, fluorine-based products and technologies, polymer solutions and data communications.
"Orbia Ventures has invested three million dollars in SeeTree, a company in the agricultural technology space, whose goal is to provide farmers with individual knowledge per tree to optimize the use of land, water, fertilizers and protect crops."
As part of this investment, Netafim, Orbia's Precision Agriculture business group, will incorporate SeeTree into its digital agriculture offering and support the development of SeeTree solutions. “We are excited to announce this investment in SeeTree at a key time for the growth of the crop market. This investment represents a significant step for Orbia and in particular for Netafim, our precision agriculture business unit,” said Orbia's CEO, Daniel Martínez-Valle.
SeeTree provides an agricultural technology and data intelligence network for agricultural decision making using military-grade drones, ground sensors, artificial intelligence and machine learning tools, and the collection of startup data on the ground.
SeeTree CEO and co-founder, Israel Talpaz said they will leverage Netafim's global reach in the agricultural sector and its expertise to work together in order to show the value of a data-driven approach.