We are proud to announce that EIT Food Accelerator Network alumnus Seabex, an agritech startup pioneering the use of AI and sensorless technology to revolutionise farming practices with precise irrigation recommendations, has successfully closed seed funding round, led by Water Unite Impact, with participation from Mercy Corps Ventures (US), Digital Africa (France), and three strategic business angels.
Since its inception in 2020, the French startup has made significant headway in France and Tunesia, managing over 50,000 hectares of farmland with its cutting-edge platform. Their technology not only delivers precise, actionable irrigation recommendations, it is also more cost-effective and scalable, compared to traditional sensor-based methods.
Saving an average of 30% in water usage and increasing crop yields by 20%, results validated by independent organisations like the chamber of agriculture of Département du Loiret (France) Seabex's advanced technology has already achieved substantial impacts. It helps farmers optimise water usage and increase crop yields by leveraging advanced algorithms and satellite imagery.
“The funds from this round will fuel our ambitious plans to expand our operations into new countries, including the South of Europe, Africa and Middle East, allowing us to bring our revolutionary technology to more farmers around the world.” Amira Cheniour, Co-founder and CEO of Seabex.
The investment fund backing French AI company Seabex will help to grow both, the team and AI capabilities. There are plans to scale up by raising an additional $30 million by the end of this year and the goal is to refine the technology further to achieve up to 95% accuracy compared to ground-truth measurements by traditional sensors.
Water Unite Impact is an investment vehicle developed by non-profit organisation Water Unite and managed by regulated impact investment manager Wellers Impact. It invests in private sector water small to medium-sized enterprises to transform lives and communities. Seabex is a welcome addition to their portfolio, which includes Jibu, Sanivation, Mr. Green Africa, and GREE Energy | B Corp Certified.
“We are thrilled to have the support of such esteemed investors in our mission to revolutionise agricultural water irrigation. This funding will enable us to scale our innovative solutions, helping farmers worldwide conserve water, enhance yields, and build more sustainable practices.” Taher Mestiri, Co-founder and Chairman of Seabex.
Congratulations to co-founders Amira Cheniour, Ines Hamida, Taher Mestiri, the entire team and everyone involved. This is a great example how innovative technology can save water and boost productivity, addressing global challenges of water scarcity and agricultural efficiency.