<article>Agricultural tech firm <a style="color: #000080;" href="http://www.croplogic.com" target="_blank">CropLogic</a> has successfully closed its offer on the <a style="color: #000080;" href="https://equitise.com/" target="_blank">Equitise</a> crowdfunding platform and raised $512,000.</article>

Agricultural tech firm <a style="color: #000080;" href="http://www.croplogic.com" target="_blank">CropLogic</a> has successfully closed its offer on the <a style="color: #000080;" href="https://equitise.com/" target="_blank">Equitise</a> crowdfunding platform and raised $512,000.
The company will use the fresh funds to prepare for a listing on the <a style="color: #000080;" href="http://www.asx.com.au/" target="_blank">Australian Securities Exchange (ASX)</a>, establish an arm in China and acquire agronomy companies in the US, New Zealand, and Australia.
It has also appointed <a style="color: #000080;" href="http://ventnorcapital.com.au/" target="_blank">Ventnor Capital</a> as corporate advisor for the planned transaction.
CropLogic CEO Jamie Cairns said, the firm would “immediately” begin preparations for the listing.
“This has been a key milestone in CropLogic&#8217;s history and we are now looking forward to the next exciting growth phase of the company,” he said, in an official statement.
CropLogic gathers field data and makes crop prescriptions and management recommendations. The unique system allows the company to deliver forecasts on the future effects of today’s input decisions on crop yield and quality, which it claims to be more accurate than any other product.
This &#8220;dynamic optimization&#8221; process is familiar to industrial processes, such as automotive, aerospace and industrial control but is new to crop growers.
Commenting on the prospects of the sector, Ventnor Capital Partner Morgan Baron said, agri-tech is currently experiencing “significant” investor interest. This is driven by the need to support global population growth, scarcity of water and need for food security.
“CropLogic’s proprietary technology and unique value proposition assists crop growers with their irrigation requirements, nitrogen requirements and yield,” he added.
Founded in 2010, CropLogic licensed the intellectual property for its software from the NZ Institute for <a style="color: #000080;" href="http://www.plantandfood.co.nz/" target="_blank">Plant and Food Research</a>, which had done 25 years of plant model research.
The firm holds the exclusive global license for the potato model of the software, which it has been testing in New Zealand, Australia, the US and China. It also has preferential option agreement to license the software for other crops including maize, tomatoes, and onions.
Last month, the company signed a deal with Plant and Food research to start trials of the system in other commodities such as corn, wheat, soybean and cotton.
CropLogic was one of seven startups to get a $450,000 repayable grant from <a style="color: #000080;" href="http://www.callaghaninnovation.govt.nz/" target="_blank">Callaghan Innovation</a> in 2015, which it used to develop aerial imaging technology. The grants are scheduled to be repaid when the company begins to make sales, limited to 3% of Croplogic&#8217;s total revenue per year.
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NZ agri-tech firm CropLogic plans ASX listing, raises $512K via ECF route

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NZ agri-tech firm CropLogic plans ASX listing, raises $512K via ECF route

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