Cultivation/Production, Equipment/Technology, Trends

A New Zealand agritech startup helping US potato farmers just listed on Australian Securities Exchange

A tech company that helps farmers improve crop yields will list on the Australian Securities Exchange on Tuesday. CropLogic has raised the $8 million it sought in an IPO, and said it was even offered $1 million on top of that during the offer period. Forty million ordinary shares will be issued at 20 cents each, and the business will have a market cap of $25 million. The New Zealand “internet of things” agriculture tech company, established in 2010, uses on-field sensors connected via wireless and satellite channels to collect data such as soil moisture and temperature, and rainfall, alongside other information to give farmers a predictive analysis of their efforts. CropLogic’s current client base is predominantly potato farmers in the Pacific northwest region of the USA. Potato trials have been completed with big names like PepsiCo, Lamb Weston, Simplot and McCain Foods throughout USA, China, Australia and New Zealand. More

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