Xpand Ventures, Diario Clarín’s corporate accelerator, invested US$200k in Argentinean startup Kilimo, a Big Data startup for crops irrigation management.
(Press Release) Xpand Ventures, Diario Clarín’s corporate accelerator co-invested 200,000 US dollars in Kilimo, an Argentinean Big Data startup for crops irrigation management. Led by Jairo Trad, Juan Carlos Abdala, and Rodrigo Tissera, Kilimo plans to use the capital to increase sales in the United States, reach 10% of Argentina’s irrigated area and explore the Chilean market.
Xpand Ventures decided to invest in Kilimo due to its market potential and entrepreneurial team. Vanesa Kolodziej, Xpand Ventures’ General Manager explains: ”They showed profound market understanding and created real customer value, which reflects in its sales. At the same time, the entrepreneurial team overcame many challenges such as selling their product in other countries. We believe that Kilimo will achieve a high market value, generating improvements for the entire agricultural ecosystem.”
Kilimo uses Big Data (climate and satellite information) to provide clear crop-irrigation recommendations that helps producers optimize water usage. It’s a simple yet robust application that improves yields and reduces farmers’ direct costs. The app works for monitoring wheat, soybean, corn, lentils, chickpea and vegetables.
“With this investment, in addition to expanding our comercial reach, we will be able to continue improving and adding features to our product to help making irrigated land more profitable,” said Jairo Trad, Kilimo’s CEO and cofounder.
Xpand Ventures co-invested in Kilimo’s 850 thousand US dollars round with Alaya Capital Partners, Glocal Managers and a selected group of angel investors connected with the agricultural industry. Additionally, they received financial assistance from Córdoba’s Innovation and Entrepreneurship Agency.
About Xpand Ventures
Xpand Ventures is Diario Clarín’s corporate accelerator focused on Agtech, Argentina’s main core competence. Its objective is to fund Argentinean-based companies to increase their value exponentially and transform them into global players.
With operations in Buenos Aires and Córdoba, Xpand Ventures’ goal is to identify great companies regardless of where they are based, expanding the funding opportunities for startups across the country and helping create dynamic ecosystems outside of Buenos Aires.
For more information, please contact Vanesa Kolodziej, Xpand Ventures’ General Manager: firstname.lastname@example.org