MEMPHIS, TN / ACCESSWIRE / March 11, 2024 / Innova Memphis, Inc., a leading investor in early-stage FarmTech companies, today announced its participation in the latest funding round for Soiltech Wireless, Inc., a company developing next-generation wireless sensor technology to empower farmers and processors with actionable insights for sustainable and efficient agricultural practices.
Soiltech Wireless (Rupert, ID) offers a multifunctional plug-and-play environmental sensor that measures soil moisture, temperature, humidity, CO2, GPS location, crop damage, and several other key indicators that farmers and processors need to make critical and timely decisions. The "Beacon" sensor uniquely provides value across the entire crop production cycle. The Beacon is planted with the seed, collects data throughout the growing season, is harvested, and remains with the crop through storage and processing. The Beacon is simple to deploy, rugged, and used for multiple years.
The firm's "Signal" software platform provides a user-friendly interface that enables seamless tracking of agricultural data throughout the supply chain, literally from seed to processing. The ability to remotely monitor fields in real-time enables farmers to determine when to plant, apply inputs, scout, and irrigate fields without visiting the field, reducing the number of physical trips, saving fuel, and optimizing time management. For example, water optimization alone can save potato farmers up to 10% annually, equating to millions of gallons.
"Soiltech Wireless is a prime example of the innovative and impactful companies we seek to partner with," said Dean Didato, Managing Partner at Innova Memphis, Inc. "Their commitment to addressing critical challenges faced by the agricultural industry, including labor constraints, data utilization, and sustainable practices, aligns perfectly with our investment thesis."
Soiltech Wireless's sensor technology provides farmers with real-time data on crucial soil conditions, such as moisture levels, nutrient content, and temperature. This data empowers them to make informed decisions about irrigation, fertilization, and other farm management practices, ultimately leading to increased yields, reduced costs, and improved environmental sustainability.
"We are thrilled to have Innova Memphis on board as we continue to develop and commercialize our solutions," said Ehsan Soltan, President / CEO of Soiltech Wireless. "Their deep understanding of the FarmTech landscape and their proven track record of supporting innovative companies will be invaluable as we continue bringing our technology to market and empower farmers worldwide."
About Innova Memphis:
Innova Memphis is a venture capital firm focused on empowering early-stage startups that are defining the future of agriculture through automation, digitization, sustainability, and operational efficiencies. Innova partners with visionary entrepreneurs to bring groundbreaking solutions to the agricultural sector, fostering a more efficient and sustainable farming future. www.innovamemphis.com
About SoilTech Wireless
Soiltech Wireless is a technology company developing next-generation wireless sensing technology and software solutions for the agricultural industry. The company's mission is to provide farmers with the data and insights they need to optimize their operations, improve sustainability, and propel profitability. For further information, visit: https://www.soiltechwireless.com/home
Contact:
[email protected]
Contact Information
Eshan Soltan
CEO / President
[email protected]
(202) 705-9993
SOURCE: Soiltech Wireless, Inc.
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