Backed by Fall Line Capital, the California-based firm has raised $2.1 million in pre-seed funding to construct “first of its variety” irrigation system, designed to optimize water utilization for business growers
Sonoma County, California, July 19, 2022 – Lumo [lumo.ag], a brand new Agtech firm targeted on water sustainability, introduced at this time that it has raised $2.1 million in pre-seed funding and plans to allocate funds towards commercialization of its irrigation know-how. The system presents a primary of its variety wi-fi, cloud-managed water valve community that can allow growers to optimize water utilization to enhance crop high quality and scale back overhead prices. Presently a quantity of Lumo’s irrigation techniques are being examined in vineyards and orchards in Sonoma County, California.
On a world foundation, the UN is predicting a 40% shortfall in freshwater assets by 20301 and with irrigation accounting for 70% of complete contemporary water used globally2, it’s now extra essential than ever for the agricultural business to leverage fashionable know-how to guard one of many world’s most treasured pure assets by turning into extra environment friendly and accountable.
Lumo was launched by companions Devon Wright (CEO), John Hinnegan (CTO) and famend water know-how inventor, Henry Halimi (R&D)
- Wright began and bought Turnstyle Options to Yelp in 2017 for $20 million
- Hinnegan began and bought Thinknear to Telenav in 2012 for $22.5 million
- Halimi began and bought Flo to Moen in 2020 for an undisclosed quantity
“Preserving contemporary water requires contemporary considering,” says Devon Wright, CEO of Lumo. “Local weather change and inhabitants development are forcing governments and farmers to undertake new water administration know-how. At the moment, the techniques that farmers are utilizing for managing and monitoring irrigation are damaged and wasteful. Lumo’s know-how won’t solely assist them when it comes to productiveness and profitability, however because the stewards of our planet, give them the a lot wanted innovation they’ve been ready for.”
The $2.1 million pre-seed funding was led by Fall Line Capital, a VC targeted on farmland and sustainable agriculture applied sciences. The funding shall be allotted towards the continued improvement and commercialization of Lumo’s good irrigation system. This answer makes irrigation automation and reporting simply accessible to growers to optimize their water utilization for max profitability. Lumo presents a consumer pleasant, wi-fi and complete information system with out sophisticated scheduling, configuration, or handbook intervention.
“Water is certainly one of our most important assets in agriculture. But, only a few firms are tackling the issue in a sensible and scalable means,” says Baptiste Tellier, Director at Fall Line Capital. “The Lumo workforce’s distinctive mix of {hardware} and software program experience will allow them to engineer irrigation controls that optimize for reliability and deployment. We look ahead to working with them to deliver their product to market and supply options for farmers dealing with local weather change challenges and working prices will increase.”
Trying forward, Lumo will play a key position in making a digital water document that might be used sooner or later to unlock enhanced water reporting and buying and selling on a world scale.
Lumo is backed by an advisory board of notable contemporary water authorities, VCs, and viticulturalists that can assist the corporate speed up all crucial areas of the enterprise. The advisory board consists of Jay Wright, ex-COO & President of World Wine for Constellation Manufacturers, Rob Harris, GM of Durrell & Worth Household Vineyards, and Kurt Beitler, Director of Operations at Boheme Wines.
To use for his or her 2022 pilot program or study extra, go to www.lumo.ag.
About Lumo
Lumo is a brilliant irrigation system that helps growers save water, enhance crop high quality and scale back prices. Sensible valves with in-built sensors present automation, precision and superior reporting that closes the loop between deliberate versus precise water consumption – no sophisticated scheduling, configuration, or handbook logging is required. Lumo was launched by entrepreneurs Devon Wright (CEO), John Hinnegan (CTO) and famend water know-how inventor, Henry Halimi (R&D).
For extra data, go to www.lumo.ag
