Written by 3:04 pm EU Investment

Investment boost for Trapview’s pest monitoring system

A new round of investment is planned for an important system than monitors and forecasts important agricultural crop pests, so that insecticides can be used in a more informed way.

The European Circular Bioeconomy Fund (ECBF) has led a €10m investment in the digital pest monitoring provider, Trapview, to expand its sustainable agriculture technology portfolio. This provides an AI-based solution for insect monitoring and forecasting to help reduce the use of pesticides and promote sustainable agricultural practices.

This cash injection is also aligned with the EU ‘Green Deal’ objective of reducing pesticide usage on farms by 50% by 2030.

Slovenian company, EFOS’ Trapview Solutions are present in more than 40 countries around the world, in crops ranging from tomatoes in Brazil, almonds in California, to vines in Italy and salad greens in France and Spain.

The system’s automated traps send real-time data to farmers about pest populations at field level and uses artificial intelligence to analyse and predict the development of pest dynamics. Farmers can then take informed and timely crop protection measures in a targeted manner instead of spraying entire crops with pesticides preventively.

Trapview can monitor more than 50 insect species, bringing value to a large spectrum of farmers and other stakeholders in agriculture. With thousands of traps deployed in fields, the company currently owns the largest database of pest data and predictive algorithms in the world.

“Modern, sustainable insect crop protection is almost impossible without accurate, reliable, and up-to-date data about pest population and development. Trapview is recognised as the world’s most advanced and complete solution in this space. I’m excited that such renowned and experienced investors participating in our Series B round share our vision and support our ambitions to become a global leader in the segments we are in,” said Matej Stefancic, CEO and co-founder of EFOS.

Founded in 2020, ECBF will use this new investment, plus finding from other investors in the financing round, include Demeter, from France and existing shareholder, Pymwymic, an impact investment fund from Holland, to accelerate Trapview’s commercial development in Brazil, Europe (starting with France, Italy, Spain) and in the US.

Stéphane Roussel, partner at ECBF, commented: “With thousands of AI-powered pest control solutions deployed in the field, Trapview offers the world’s leading platform for remote insect monitoring and forecasting.

“In recent years, despite COVID, Trapview has gained significant momentum with farmers and value chain partners in Latin America, Europe and other regions. Our investment will give Trapview the resources to accelerate international expansion and meet the growing demand for its automated traps and software solutions.”

* The European Circular Bioeconomy Fund (ECBF) aims to make sustainable investments in our future and accelerate the transition from a fossil-based to a circular, bio-based economy. Based in Bonn, Germany, and with a total fund size of €300m, to which the European Investment Bank (EIB) has contributed €100m, it will be an important financial instrument to achieve the European Green Deal goals, including making Europe carbon-neutral by 2050.

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