Iyris, a company that improves agricultural output in hard-to-achieve settings, has raised $16 million in funding. 2023 will go down as the hottest year on record because of rising temperatures and droughts, which will make farming more challenging, especially in areas that were previously recognized for their high agricultural output. Iyris, based in Delaware, Abu Dhabi, and Riyadh, has responded by providing essential technology solutions to help farmers deal with these negative effects of climate change.
Lead by the Ecosystem Integrity Fund of San Francisco, other participants in the Series A fundraising round included Global Ventures, the Dubai Future District Fund, Kanoo Ventures, Globivest, and Bonaventure Capital.
In his conversation with TechCrunch on the funding, Executive Chairman John Keppler emphasized Iyris's dedication to growing its company and tackling the difficult task of sustaining crop yields in the face of climate change. Keppler emphasized Iyris's emphasis on widely available agricultural technologies, namely the use of screens and covers to protect crops from the elements while encouraging more environmentally friendly large-scale farming.
Iyris, formerly Red Sea Farms, invented the SecondSky technology, which improves polyethylene covers to block heat-inducing infrared radiation, thereby lowering the farm's needs for cooling, water, and electricity. The technology was inspired by developments at the King Abdullah University of Science and Technology. This method increases crop yields and overall plant health by enabling earlier planting and longer growing seasons.
Iyris's comprehensive solutions have resulted in notable reductions of up to 90% in energy and water use. Demand for Iyris's creative solutions is rising as the global climate issue worsens, assisting farmers in arid regions and beyond to increase sustainability and production.
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