This capital injection will allow it to expand its operations in Mexico, Chile and Argentina, and consolidate its position as a leading player in the generation of volumetric water benefits.
The agricultural technology company Kilimo announced its Series A for an amount of US$ 7.5 million, the round was led by Emerald Technology Ventures, a pioneering Cleantech venture capital fund and accompanied by The Yield Lab Latam, Salkantay Ventures, Kamay Ventures and iThink VC. This investment consolidates Kilimo as a leading player in the generation of volumetric water benefits and also its operations in Mexico, Chile and Argentina.
Through agriculture, Kilimo generates "volumetric water benefits" to accompany companies that have goals related to water security in the basins where they operate. Through Collective Action Projects, Kilimo connects these companies with farmers who, by adopting technology, significantly reduce the use of irrigation water in their fields. To generate "volumetric water benefits" Kilimo implements three types of solutions: artificial intelligence (AI), irrigation conversion, regenerative agriculture.
Kilimo is already working with companies that have announced water use commitments in recent years, including Microsoft, Intel and Coca-Cola, demonstrating growing interest in sustainable water management.
And according to experts, water demand by 2030 will exceed supply by 40%, and agriculture currently represents approximately 70% of freshwater use worldwide. The opportunity for companies to harness the technological transformation of agriculture to positively contribute to the global hydrosphere is significant.
Chile is one of the Latin American countries in which Kilimo collaborates with its solutions to mitigate water stress. According to data from the Chilean Ministry of Public Works, approximately 72% of the national territory is in drought conditions. The Metropolitan Region has experienced one of the worst reductions in water availability. In this basin, Kilimo has supported grape, plum, avocado, almond and citrus farmers, among others, with its solution.
So far, Kilimo has managed to reach more than 2,000 farmers in seven countries with its solutions and save 72 billion liters of water.
At the same time, to support farmers, Kilimo develops an Irrigation Academy that has trained more than 120,000 farmers in the last three years. This impact was even praised by the World Economic Forum's Global Freshwater Challenge.
With a remote and agile management team based in Latin America, Kilimo is well positioned to scale its solutions globally.
Helge Daebel, Emerald's head of water practice , will join the company's board of directors as part of this transaction.
“Water efficiency in agriculture is crucial, especially in this region, as it is the main producer of agricultural goods globally. And with Kilimo's stellar team in close contact with farmers, we are impressed by their innovative work in building a bridge between water consumption, technology adoption in a difficult space, and corporations that are exposed to local water risks." commented Daebel. “We are very excited about Kilimo, which led us to our first investment in Latin America, and we would like to thank the WEF Uplink program for bringing us this opportunity.”
"We joined the Kilimo team six years ago, taking advantage of an opportunity that continues to bear fruit. Together with them, we have learned invaluable lessons as we came to know and appreciate their strong commitment to their objectives and their ability to adapt to the ever-changing Latin American macroeconomic environment. and to the practices of the agricultural industry. Above all, we are doubling our investment because the team has demonstrated keen awareness and perfect timing to involve all actors in the agri-food chain, from farmers to suppliers, retailers and customers of goods. consumer packaged goods (CPG)", reflected Santiago Murtagh, Managing Partner of Yield Lab Latam and Member of the Board of Directors of Kilim.
“By receiving this new round of investment, we are not only enhancing our capabilities, but also expanding our impact globally. [...] We look forward to expanding our operations and continuing to close the gap between agricultural practices and corporate water conservation efforts,” concluded Jairo Trad, CEO and co-founder of Kilimo.
