Christchurch-born AgriTech startup CropLogic was named one of the most promising early stage ventures earlier this month at the annual Tech Investment 100 Awards (TN100 Awards), held in Auckland.
The startup uses its proprietary technology to give farmers daily optimal prescriptions for applying water and nitrogen together with a rolling yield prediction. Building on technology developed over 30 years out of Plant & Food Research, a New Zealand Crown Research Institute, the CropLogic system gathers field data via low-powered wireless networks and satellite systems. This is then processed through its proprietary technology to give farmers the daily optimal prescriptions.
The company has enjoyed rapid-growth within its industry and will soon float on the Australian Securities Exchange (ASX) using Australian-founded but now New Zealand based equity crowd funding platform Equitise.
The company has also appointed Ventnor Capital Pty Ltd as Corporate Advisors.
However, right now it is the recognition of the TN100 award that the team is celebrating – understandable when you look at the competition and fellow recipients of the accolade.
“The Award comes at a time when New Zealand’s technology export sector is really starting to establish itself on an international stage,” said Jamie Cairns, CEO of CropLogic. “We’re delighted to be part of that, and to be contributing to the country’s economic success.”
CropLogic was in stellar company at the awards, with prominent startups including 8i, BioLumic, Engender Technologies, Footfalls & Heartbeats, Hydroxsys, Invert Robotics, Mars Bio-imaging Ltd, Parrot Analytics, and Timely shortlisted for the gong CropLogic took out.
“This Award reinforces CropLogic’s commitment to increase the Company’s shareholder growth potential through an ASX listing,” said Cairns.
“Our aim at CropLogic is to become the leading provider of end-to-end agronomy services to global crop-growers. We developed the technology here in New Zealand and have been able to create a proven decision support system to achieve more sustainable farming practices by improving yields, significantly increasing efficiencies and boosting profits,” says Cairns.
Successful trials of the CropLogic system have now been completed on potatoes in China, United States, Australia, and New Zealand with companies like PepsiCo, Lamb Weston, Frito Lays, Simplot, and McCains Foods. In fact, a full commercial roll out into the potato industry is currently in process.
The startup now has its sights on developing a winning strategy across other commodities such as corn, wheat, soybean, and cotton.
Image: CropLogic’s Chief Operations Officer.