NXTP Labs announces new investment in agtech sector
After being featured in Expo Agro, one of the biggest agricultural fairs of Argentina, NXTP Labs reaffirms its commitment with the industry of Agtech, which brings innovation to agriculture. This week, the fund announced its investment in Kilimo, the startup that won the Agtech Program Pitch Competition in 2016. Therefore, Kilimo becomes part of NXTP Labs’ portfolio, conformed by more than 180 digital and technological based companies. NXTP also confirmed that it is analyzing at least other three Agtech companies from Argentina, Brazil and Uruguay, which will be announced within the next weeks.
During 2016 NXTP Labs developed an Acceleration Program for the Agtech segment in Argentina and Uruguay, that ended with two conferences, one in Montevideo and one in Buenos Aires.
Ariel Arrieta, CEO of NXTP Labs said “The link between agriculture and technology has more opportunity than investors. It’s time for investors to start betting on the sector that will change the way we feed in the future. We’re happy to announce new agtech investments”.
Kilimo provides a platform for irrigation management in extensive agriculture. Its technology uses satellital information and climate data that improve the irrigation performance up to a 30%, while the efficiency of the use of water improves in a 70%. Its mission is to simplify irrigation management, improving the economic ecuation for the producer and reducing environmental impact.
The team is conformed by Rodrigo Tissera (COO), Jairo Trad (CEO) and Juan Carlos Abdala (CTO). Currently, the company is starting operations in USA, considered the most important market in extensive agriculture through irrigation. They are also working side-by-side with Agricultural Seeds Companies, specially corn, where the returns obtained by optimizing irrigation result especially attractive.
Kilimo joins the Agtech startups portfolio invested by NXTP Labs, such as Satellogic, DTA Latam/ Pago Rural, S4, Agrofy, Cargo X and Sontra. The accelerator is going up on its way to positioning itself as a leader in the sector, with a new acceleration program in 2017 that is looking for innovation in agriculture and has its applications open until March 26th. Those who are interested can consult requirements and apply here: agtech.nxtplabs.com
About NXTP Labs
With operations in Argentina, Chile, Colombia, México and Uruguay, NXTP Labs is the most active fund for tech companies in Latin America. The firm has partnered with teams from more than 15 countries, and has invested in more than 180 companies in just over 5 years of operations. The company adds value to the startups that belong to its portfolio by including them in acceleration programs that generate a fertile ecosystem of innovation and a network that benefits entrepreneurs, investors and mentors. NXTP Labs’ entrepreneur ecosystem also includes industries and verticals such as Advertising, Agribusiness, Bitcoin, Big Data, Cloud, E-Commerce, Education, Finance, Gaming, IoT, Mobile, Security, Social Network, Social Commerce and Video.