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Hortau Secures $3.5M in Financing from Avrio Capital
|By PR Newswire
|April 4, 2014 07:15 AM EDT
Hortau will use funding to continue expansion and provide world-class irrigation management solutions for growers across all commodities
CALGARY, April 4, 2014 /CNW/ - Hortau, the leader in wireless, web-based irrigation management, has secured $3.5 million in financing from Avrio Capital – its second investment in the precision irrigation company in 14 months.
Avrio Capital, Canada's leading private equity firm focused on food and agriculture, invested $3 million in Hortau in January 2013, allowing the precision irrigation company to grow its technical support and sales team to rapidly expand throughout North America.
"We're excited to have Avrio Capital as a key, long-term partner in our continued growth, expansion and unique perspective on precision irrigation," said Hortau CEO Jocelyn Boudreau. "Avrio Capital's global network, combined with Hortau's proprietary technology, has created a strong partnership for the future."
Hortau's irrigation management system, combined with its easy-to-use Irrolis 3 software, reports to growers how their crops are faring in real time – before stresses such as drought or lack of aeration can have a negative impact on the crop.
This proprietary, plant-centric approach to irrigation management ensures optimal plant growth, reduces water and energy use, and other environmental impacts. Hortau has rapidly gained the confidence of growers in strawberry, almond, grape, cranberries and other crops. Hortau has determined optimal moisture and soil tension conditions to optimize yields for many crops. Staying within a narrow soil tension range can drive dramatic yield increases.
"The recent drought conditions in California and the Central U.S. have heightened the importance of irrigation practices in farming," Boudreau added. "Hortau's goal is to help ensure that growers are getting the most out of their crops and the water resources available to them, and Avrio Capital shares in that vision."
Thanks to the investment from Avrio Capital, Hortau will continue to expand its team of regional representatives, provide world-class irrigation management solutions and financing options to growers across all crops.
"Hortau's approach to precision water measurement provides a platform which to create optimal algorithms for watering regimens," said Tom Kaneb, Managing Director at Avrio Capital. "The technology provides hope to producers worldwide who want to maximize yields or are struggling with water shortages."
Visit Hortau.com for more information on Hortau's proprietary irrigation management system and simplified software for both desktop and mobile devices, or contact us directly at (805) 545-5994 and [email protected].
About Avrio Capital
Avrio Capital was established in 2006 to identify and invest in innovative food and agriculture companies that provide solutions to global challenges in the areas of health, wellness and sustainability.
Avrio is a hands-on investor that works alongside its portfolio companies to provide the support and resources needed to transform emerging companies into successful, globally competitive enterprises. For more information, visit AvrioCapital.com.
Hortau, a global leader in wireless, web-based irrigation management systems, was founded in 2002 by two agriculturally minded entrepreneurs, Dr. Jean Caron, agronomist, Ph.D in Soil Physics, and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics.
Hortau's patented, irrigation management solutions help growers detect plant stress, ensuring optimal crop growth while reducing water and energy use as well as eliminate environmental impacts of crop production.
With U.S. operations based in San Luis Obispo, Calif., Hortau has offices, representatives and technicians throughout North America, including a Canada headquarters in Quebec.
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