Agritech. Elaisian is financed with € 1M
Fortitude 1780, Lazio Innova, Puglia Region and business angel invested
Fortitude Group Holding investment and Innova Venture have invested a total of 625 thousand euros in the agritech startup Elaisian. Several business angels participated in the investment with a further 280 thousand euros, in addition to the contribution of the Puglia Region for 160 thousand euros, thus bringing the total investment to over 1 million euros. The transaction was followed up by the WDA Law Firm. Elaisian is the decision support system (DSS) that prevents olive and vine diseases, able to optimize cultivation processes. The startup aims to promote knowledge transfer and innovation in the agricultural sector through the development of services for the digitization of farms. The investment will allow to consolidate the Italian and Spanish market, then going to scale in other Mediterranean countries where the company is already present, such as Greece, Portugal and North Africa.
“We are very satisfied - declared Andrea Ciampalini , General Manager of Lazio Innova. For Innova Venture this is the fifth investment selected by the Investment Committee - which includes Stefano Peroncini, Fabio Mondini and Peter Mayrl - moreover in a sector, the agritech one, of great interest for Lazio. The fund today, also thanks to the co-investment agreements so far tight, has a substantial pipilene of investments, but still having important resources to invest it is in the midst of its scouting activity to search for other interesting and scalable opportunities in an ecosystem, that of Lazio, which is progressively maturing, proving to be of interest for the funds that have wanted to start building even here thanks to the Region's policies”.
“Technology in the primary sector thanks to precision agriculture is gaining ground every day - underlined Damiano Angelici and Giovanni Di Mambro , co-founders of Elaisian - with strong evidence of the benefits that Big Data bring to this sector. Having an impact on the environment and on plants but also on the working life of each farm is a source of pride for us and it is thanks to the work done with them that we can constantly improve our system. The combination of technology and innovation truly generates a great result that daily provides useful support to the work of farmers. The entry of Fortitude 1780 and Lazio Innova in the capital of Elaisian is a great opportunity for growth that will allow us to take a considerable step forward in the AgTech sector internationally and be able to play an important game outside the Italian borders, thus being able to supply the largest number of farms present in the countries of Southern Europe".
How does the Eliasan decision support system work? On the one hand, an Agrometeo Station is installed, which monitors the microclimate of each olive grove / vineyard. On the other hand, with proprietary algorithms based on agronomic research, alerts and reports are generated as results that are sent to farms, which allow you to prevent the presence of pathogens a week in advance and understand whether to do a treatment or not. Each user has an app where he can monitor his fields 24 hours a day, wherever he is and receive all reports. The most serious, that is the alerts, are also sent via SMS. There are many benefits for farms, such as cost savings (treatments, labor, consumption); increase in the quality and quantity of production; reduction of environmental impact. The extreme ease of use of the system should also be underlined as it is designed for every type of farmer, without size limits. The company boasts a team of 18 people, with its headquarters in Rome and other operational offices in Milan, Bari and Madrid. To date, over 1,000 farms in 10 countries around the world, including Italy, Spain, Greece, Portugal, Cyprus, Morocco, Algeria, Chile, Uruguay and the United States, use the all-Italian technology developed by Elaisian.
EFA News - European Food Agency