Impact and corporate investors catalyze 3,7m EUR for the reduction of pesticides to meet urgent demand for more sustainable farming practices

Despite turbulent times due to Covid-19, Dutch impact investors, Pymwymic (Put Your Money Where Your Meaning Is Community) have teamed up with strategic partner Kubota Corporation and Italian based impact investor, Oltre Venture in a Series A2 round totaling €3.7m for Trapview, a technology leader in automated pest monitoring and forecasting.

Pests destroy approximately 14% of all annual crop production, each year. In addition, almost 5 million tons of more than 600 different pesticide types are applied to fight pests, of which astonishingly only 1% is actually effective. The overuse of chemical pesticides is evident, and furthermore pests are becoming more and more resistant to them creating a pressure on farmers. This is resulting in a demand for more effective, reliable and efficient pest monitoring solutions. With the automated pest monitoring system provided by Trapview, farmers are not only reducing their use of chemicals, but also decreasing the cost for healthier food produce, allowing healthy, pesticide-free food to become more accessible.

Originally founded in 2007 in Slovenia as an IT and R&D company, Trapview holds an expertise in monitoring of pests. With thousands of traps deployed in fields, the company currently owns the largest database of pest data and algorithms in the world. Currently they have over 1300 unique customers in more than 40 countries spread over Europe, Australia, North and South America including major players such as Syngenta, Bonduelle, Adama and PepsiCo to name a few.

Over recent years, Trapview has been growing steadily, making several strategic decisions to switch from a pure technological company, to a more customer-centric company. Amongst others driven by this shift, the company doubles sales continuously for the last years. This has enabled them to now reach this major milestone in a successful investment round – even during the Covid-19 crisis.

This consortium now with Kubota Corporation, Oltre Venture completing the syndicate, brings strong added value besides the growth capital. The strategic positioning of Kubota in agricultural equipment manufacturing will allow Trapview to benefit new ways of product development, while the local presence of Oltre in the core market for Trapview, Italy, will provide new access to local clients.

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