Israeli AgTech startup Growee has secured an undisclosed funding round led by several renowned impact angel investors, the Israeli Innovation Authority, and the Israeli Ministry of Economy. The company, known for its technology designed for small-scale hydroponics growers, is setting its sights on North American expansion after successfully selling its products in over 20 countries worldwide.
Unlike many AgTech companies serving primarily large commercial growers, Growee offers a unique hardware and software platform tailored to small-scale growers. This includes urban hydroponic and vertical farmers, educational and research facilities, container farms, and even home growers.
The platform leverages proprietary IoT and analytics technology to continuously monitor and balance water chemistry, which is crucial for optimizing plant growth. The data collected is managed via the Growee cloud, offering real-time insights and control to growers using the Growee App.
"Growee has always been committed to providing sustainable, easy-to-use tech solutions to small-scale growers," commented Idan Avitan, CEO and co-founder of Growee. "The micro hydroponics farm market is an emerging sector supporting urban farming growth. Millions of home and small-scale growers are leading the way, and we are privileged to support their journey. Establishing a new distribution center in Florida is a significant step towards making our solutions more accessible to urban farmers in the US. We have plans for additional locations, aligning with the increasing demand in the urban farming and small-scale hydroponics market."
The hydroponics market and urban farming sectors have shown significant growth in recent years. The vertical farming technologies market share is expected to increase to USD 8.52 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 24.74%, according to Technavio. This growth reflects the increased interest in sustainable farming practices and local food production, especially in urban settings.
"We see hydroponics as the future of both urban and vertical farming," Idan states. "Currently, small-scale growers face the time-consuming and error-prone task of manual water monitoring and adjustment. Growee's automated hydroponics system simplifies this process, enhancing efficiency and increasing hydroponic yield, as reported by customers worldwide."
Growee's entry into the US is marked by the establishment of a distribution center in Florida. This move, supported by two prestigious grants from the Israeli Ministry of Economy, signifies a major milestone in the company's US expansion plans.
The Israeli startup is a welcome addition to the local community. "We recently launched a Military Service Benefits Program, and we are proud to honor and support the veteran community," said Idan. "Given my past as a combat fighter and a commander in the IDF Special Forces, I've experienced how growing can help heal the soul, whether it's through growing food or medicinal plants."