A $16 million Series A fundraise has been completed by iyris (formerly RedSea), an innovative AgriClimate Tech company that helps growers worldwide increase crop yields, reduce input costs and risk, and extend growing seasons in some of the most challenging farming environments.
Ecosystem Integrity Fund (“EIF”), a climate and sustainability fund based in San Francisco that supports high-growth businesses with a positive environmental impact, led the round. Institutional investors both old and new, such as Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, and Bonaventure Capital, backed it.
The funds that will be raised will go toward bolstering iyris’ robust international sales pipeline for SecondSky greenhouse nets and covers as well as expanding sales coverage. Additionally, the development of its novel heat-blocking products and resilient plant genetics will be financially supported. The investment supports iyris’ continued dedication to equipping farmers to address food security issues, mitigate the effects of climate change in a sustainable manner, and accomplish important UN Sustainable Development Goals.
John Keppler, Executive Chairperson of iyris, said:
“We are building a great company, making it easier for farmers to grow fresh produce in increasingly difficult climates. There are few problems more challenging than feeding the world sustainably. iyris is assembling the necessary toolkit to help farmers improve crop yields with fewer resources.
“In just a very short time, we have brought our products to market and proven that they work. But we have a lot left to do, and the completion of our Series A fundraise enables us to take the next steps in expanding sales of our drop-in solutions for heat blocking and crop resilience to our grower customers around the world.”
Sasha Brown, partner at EIF, commented:
“EIF has been studying the impact of increasingly extreme weather on agriculture. iyris’ suite of products is tailored for growers in harsh and volatile conditions, who have historically been underserved by AgriClimate Tech innovation. These growers, who often operate on thin margins, have few options to better manage their farms to reduce the risk of crop loss, increase yields, and reduce water and energy consumption.”
“We have invested in iyris because we believe there are few companies that have such tremendous potential to become a critical partner for a mass market of growers, as they seek to adapt their operations to withstand and mitigate changing climates.”
The technologies that iyris is implementing on a large scale were initially created by distinguished scientists and instructors at the King Abdullah University of Science and Technology located in Saudi Arabia.
