EdenShield, an Israeli agtech firm, has raised $1 million in equity capital in a round led by crowd-funding platform OurCrowd. The capital will be used to expand the operations and distribution of its pesticide alternative for greenhouse crop production.
EdenShield produces an alternative to artificial, toxic pesticides from extracts of medicinal plants found in Israel’s semi-desert. The product produces an odour that masks the smell of the crops and so reduces the attraction of pests.
The company is part of Trendlines Agtech’s portfolio, an Israeli agtech accelerator.
EdenShield’s first product, NET, is applied to the screens on greenhouses whereas its second product DIRECT can be applied to crops, including cannabis, that are grown within the greenhouse.
“Tests demonstrated that EdenShield’s product lowers greenhouse penetration of thrips, whiteflies, red spider mites, and tuta absoluta by over 90%,” reads a press release.
OurCrowd is just one crowd funding platform active in the agtech sector; AgFunder raised a total of $10.7 million for seven start-up companies in 2014. The latter is currently raising capital for SWIIM, a water technology company that aims to optimize the use of water on farms.
Look out for further coverage of SWIIM later this week.
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