IGS has announced a further raise of £1.6 million in the second and final close of its Series A funding. Ospraie Ag Science, based in New York City is making its first investment in a Scottish business of £1.5 million. An additional £100k from Agfunder (San Francisco) brings the total Series A funds raised to £7 million including S2G (Chicago) and Scottish Investment Bank.
Ospraie has 25 years’ experience investing in the agriculture space to enable farmers to do more with less to meet the demands of the modern consumer. The investment in IGS is Ospraie’s first move towards building a global platform in the indoor AgriTech market.
This latest raise allows IGS to further expand its market presence through global sales operations for both AgriTech and Commercial Lighting. Demands for its systems are high with the first deployments expected in early 2020.
To learn more about Ospraie Ag Science's investment with IGS, read the full Automation Update article here.