https://techcrunch.com/2024/05/30/iyris-makes-fresh-produce-easier-to-grow-in-difficult-climates-raises-16m/ TechCrunch Logo Login * Search * Startups * Venture * Security * AI * Crypto * Apps * Events * Startup Battlefield * More + Fintech + Hardware + Transportation + Media & Entertainment + Newsletters + Podcasts + Partner Content + Crunchboard Jobs + Contact Us Search [ ] Climate Iyris makes fresh produce easier to grow in difficult climates, raises $16M Tage Kene-Okafor 1:13 AM PDT * May 30, 2024 Comment IyrisImage Credits: Iyris Last year was the hottest year on record, and it doesn't look like we're cooling down anytime soon. Rising temperatures have made farming increasingly difficult in areas that once had prime agricultural resources that are now severely impacted by heat and drought. For most farmers who rely on traditional methods and lack access to high-tech greenhouses, the need for adaptable, ready-to-use solutions is paramount. This is where agtech companies like Iyris, based in Riyadh, Abu Dhabi and Delaware, come in. The startup, which provides a lifeline to farmers and helps them navigate the challenges of climate change with its agricultural solutions, is announcing a $16 million Series A funding round. Executive chairman John Keppler, in a conversation with TechCrunch, said the funding provides Iyris with dry powder to "continue to scale and grow a business that solves an incredibly difficult problem of growing fresh produce and increasing crop yields in the face of climate change and rising temperatures, heats, and droughts." San Francisco-based climate and sustainability fund Ecosystem Integrity Fund (EIF) led the round, which also drew participation from Global Ventures (which invested in the company's $10 million seed led by Aramco's arm Wa'ed), Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest and Bonaventure Capital. While so much of climate tech coverage has focused on expensive, robust technologies that may be fit for specific purposes but are difficult to adopt, Keppler says Iyris targets the low-tech and medium-tech world. Farmers in this segment use protected agricultural methods like polyethylene covers, acrylic, shade nets, and screens to mitigate environmental impacts on large-scale crop production. These methods include fields and tunnels aimed at limiting ecological damage while being more accessible and practical for widespread use, Keppler explained. Advancing commercial farming in hot climates globally Iyris originated from innovations developed at the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. Co-founded by CEO Ryan Lefers, an agricultural engineering expert; Mark Tester, a plant scientist; and Derya Baran in 2018, the company, formerly Red Sea Farms, initially used its heat-blocking technology to grow and sell tomatoes in the Middle Eastern country before commercializing the tech and sale to other farmers. Dubbed SecondSky, Iyris' flagship tech involves adding an additive to polyethylene manufacturing. The additive blocks near-infrared radiation, significantly reducing heat while allowing photosynthetically active radiation (the light plants need for photosynthesis) to pass through. To paint a picture, Keppler explained that if you compared standing under a traditional polyethylene roof to one with the additive, you'd notice a substantial temperature difference due to the additive's heat-blocking properties. IyrisL-R: Derya Baran, Ryan Lefers and Mark Tester.Image Credits: Iyris This means farmers can reduce cooling costs, water usage, and electricity consumption to manage their agriculture growing conditions on the farms. As such, these farmers can plant earlier and extend their growing seasons, resulting in higher yields and healthier plants (which use energy to grow and bear fruit rather than producing more leaves for transpiration). The six-year-old startup claims that its proprietary tech (including resilient plant genetics) reduces energy and water consumption by up to 90%. "We've seen yields increase side-by-side tests quite dramatically," commented Keppler, an investor-turned-executive-chairman. "In fact, these are some of the only innovations that have occurred in this space for the better part of three to four decades, according to some of our customers, who are some of the largest growers in the world. And so what this does is it makes it easier and more profitable to grow crops in difficult conditions." Starting close to home near KAUST, Iyris burgeoned in the UAE, Egypt and Morocco. These regions, where desert agriculture is the norm, face harsh crop-growing conditions, making them ideal for testing and proving the technology's effectiveness. However, as climate change intensifies, similar challenges are emerging globally, prompting the adoption of Iyris' tech in places like the U.S., Portugal, Spain, and Mexico. Major fresh produce growers in these areas, Keppler said, are seeking to mitigate new climate challenges and adopt proven solutions from harsher climates. Ensuring food security in the GCC and other arid climes SecondSky's ability to reduce input costs and, most importantly, extend growing seasons attracts these growers from some arid regions, he added. These farmers and growers using SecondSky can continue producing when competitors cannot, allowing them to command higher prices and earn more money. Keppler claims this results in a payback within a year of purchasing SecondSky products. "So, the way this works is that growers we serve have regular replacement cycles for products with a typical lifespan of three to five years, depending on the region and application. These replacement cycles create a recurring revenue stream for suppliers of these materials," he explained. "We sell our product to growers through local distributors and provide our additives to the manufacturers and distributors, who embed them into their products. Though our product is more expensive, the benefits growers realize result in a payback within the first year of the crop cycle." The Aramco-backed climate tech works with two major client groups: large-scale international growers who operate farms globally and smaller growers and farmers whom it reaches through manufacturing and distribution partners. It's selling SecondSky polycarbonate, polyethylene, nets, and soon-to-be-launched shade screens to these customers across 11 countries, including Turkey and the U.K. Some of its clients include Silal, Armando Alvarez Group, and Criado & Lopez. AeroFarms is supplying the hops for Goose Island's latest IPA Keppler argues that there's limited competition in the horticulture space at the moment. Companies such as U.S.-based AppHarvest and AeroFarms have gone in and out of bankruptcy in recent years despite raising hundreds of millions of dollars, signaling how tough operating a vertical farming business can be. One reason Iyris remains in business is that it demonstrated the effectiveness of its technology by using it in-house, which ultimately built trust with other growers, the executive chairman noted. "There have been numerous attempts at large-scale, commercialized innovative agriculture. In some cases, those solutions are spot on. However, our thesis is that providing a drop-in solution to the existing farming infrastructure using the existing supply chain is often more effective," noted Keppler, the ex-chairman and CEO of wood pellets producer Enviva. "This way, farmers don't have to change their behaviors. They can continue doing what they do best -- growing their produce in their particular regions. Our goal is to make it a bit easier for them, extend their growing seasons, and increase their profitability along the way." Iyris, serving a global market of over $6 billion in recurring annual sales for greenhouse covers, brought in more customers and sold more products (or made more revenue) in the first quarter of 2024 than it did in the whole of 2023, according to Keppler. He added that the company would look to grow other metrics such as the total hectares covered by SecondSky, regions served (expanding into countries such as India and China), and the square meters of the product installed for its clients. Update: Earlier version said John Keppler was Enviva chairman and CEO until its bankruptcy. However, Keppler stepped down in 2022 while Enviva filed a chapter 11 bankruptcy in 2024. More TechCrunch Get the industry's biggest tech news Explore all newsletters TechCrunch Daily News Every weekday and Sunday, you can get the best of TechCrunch's coverage. Startups Weekly Startups are the core of TechCrunch, so get our best coverage delivered weekly. TechCrunch Fintech The latest Fintech news and analysis, delivered every Tuesday. TechCrunch Mobility TechCrunch Mobility is your destination for transportation news and insight. Email address (required) [ ] Subscribe By submitting your email, you agree to our Terms and Privacy Notice. Tags africa, Middle East, Saudi Arabia, vertical farming, Iyris Startups Rippling bans former employees who work at competitors like Deel and Workday from its tender offer stock sale Julie Bort 40 mins ago Investor demand has been so strong for Rippling's shares that it is letting former employees particpate in its tender offer. With one exception. Rippling bans former employees who work at competitors like Deel and Workday from its tender offer stock sale Space NASA puts $10M down on Mars sample return proposals from Blue Origin, SpaceX and others Aria Alamalhodaei 50 mins ago It turns out the space industry has a lot of ideas on how to improve NASA's $11 billion, 15-year plan to collect and return samples from Mars. Seven of these... NASA puts $10M down on Mars sample return proposals from Blue Origin, SpaceX and others Featured Article In 2024, many Y Combinator startups only want tiny seed rounds -- but there's a catch When Bowery Capital general partner Loren Straub started talking to a startup from the latest Y Combinator accelerator batch a few months ago, she thought it was strange that the company didn't have a lead investor for the round it was raising. Even stranger, the founders didn't seem to be... Rebecca Szkutak 4 hours ago In 2024, many Y Combinator startups only want tiny seed rounds -- but there's a catch Apps Watch Apple kick off WWDC 2024 right here Brian Heater 4 hours ago The keynote will be focused on Apple's software offerings and the developers that power them, including the latest versions of iOS, iPadOS, macOS, tvOS, visionOS and watchOS. Watch Apple kick off WWDC 2024 right here Startups Startups Weekly: Ups, downs, and silver linings Anna Heim 4 hours ago Welcome to Startups Weekly -- Haje's weekly recap of everything you can't miss from the world of startups. Anna will be covering for him this week. Sign up here to... Startups Weekly: Ups, downs, and silver linings Startups BlackRock has slashed the value of stake in Byju's, once worth $22 billion, to zero Manish Singh 5 hours ago HSBC and BlackRock estimate that the Indian edtech giant Byju's, once valued at $22 billion, is now worth nothing. BlackRock has slashed the value of stake in Byju's, once worth $22 billion, to zero Gadgets Apple's generative AI offering might not work with the standard iPhone 15 Brian Heater 6 hours ago Apple is set to board the runaway locomotive that is generative AI at next week's World Wide Developer Conference. Reports thus far have pointed to a partnership with OpenAI that... Apple's generative AI offering might not work with the standard iPhone 15 Privacy LinkedIn to limit targeted ads in EU after complaint over sensitive data use Paul Sawers 6 hours ago LinkedIn has confirmed it will no longer allow advertisers to target users based on data gleaned from their participation in LinkedIn Groups. The move comes more than three months after... LinkedIn to limit targeted ads in EU after complaint over sensitive data use TechCrunch Disrupt 2024 Startup Battlefield 200 applications due Monday TechCrunch Events 7 hours ago Founders: Need plans this weekend? What better way to spend your time than applying to this year's Startup Battlefield 200 at TechCrunch Disrupt. With Monday's deadline looming, this is a... Startup Battlefield 200 applications due Monday Climate Novel battery manufacturer EnerVenue is raising $515M, per filing Tim De Chant 8 hours ago The company is in the process of building a gigawatt-scale factory in Kentucky to produce its nickel-hydrogen batteries. Novel battery manufacturer EnerVenue is raising $515M, per filing Apps Meta quietly rolls out Communities on Messenger Aisha Malik 9 hours ago Meta is quietly rolling out a new "Communities" feature on Messenger, the company confirmed to TechCrunch. The feature is designed to help organizations, schools and other private groups communicate in... Meta quietly rolls out Communities on Messenger Featured Article Siri and Google Assistant look to generative AI for a new lease on life Voice assistants in general are having an existential moment, and generative AI is poised to be the logical successor. Brian Heater 11 hours ago Siri and Google Assistant look to generative AI for a new lease on life Enterprise Bain to take K-12 education software provider PowerSchool private in $5.6B deal Paul Sawers 11 hours ago Education software provider PowerSchool is being taken private by investment firm Bain Capital in a $5.6 billion deal. Bain to take K-12 education software provider PowerSchool private in $5.6B deal Apps Shopify acquires Threads (no, not that one) Ivan Mehta 13 hours ago Shopify has acquired Threads.com, the Sequoia-backed Slack alternative, Threads said on its website. The companies didn't disclose the terms of the deal but said that the Threads.com team will join... Shopify acquires Threads (no, not that one) Featured Article Bangladeshi police agents accused of selling citizens' personal information on Telegram Two senior police officials in Bangladesh are accused of collecting and selling citizens' personal information to criminals on Telegram. Lorenzo Franceschi-Bicchierai Zulkarnain Saer Khan 21 hours ago Bangladeshi police agents accused of selling citizens' personal information on Telegram Startups Carta's valuation to be cut by $6.5 billion in upcoming secondary sale Connie Loizos 23 hours ago Carta, a once-high-flying Silicon Valley startup that loudly backed away from one of its businesses earlier this year, is working on a secondary sale that would value the company at... Carta's valuation to be cut by $6.5 billion in upcoming secondary sale Space Boeing's Starliner overcomes leaks and engine trouble to dock with 'the big city in the sky' Aria Alamalhodaei 1 day ago Boeing's Starliner spacecraft has successfully delivered two astronauts to the International Space Station, a key milestone in the aerospace giant's quest to certify the capsule for regular crewed missions. Starliner... Boeing's Starliner overcomes leaks and engine trouble to dock with 'the big city in the sky' Transportation Rivian's path to survival is now remarkably clear Sean O'Kane 1 day ago Rivian needs to sell its new revamped vehicles at a profit in order to sustain itself long enough to get to the cheaper mass market R2 SUV on the road. Rivian's path to survival is now remarkably clear Featured Article What to expect from WWDC 2024: iOS 18, macOS 15 and so much AI Apple is hoping to make WWDC 2024 memorable as it finally spells out its generative AI plans. Brian Heater 1 day ago What to expect from WWDC 2024: iOS 18, macOS 15 and so much AI Apps What to expect from Apple's AI-powered iOS 18 at WWDC 2024 Sarah Perez 1 day ago As WWDC 2024 nears, all sorts of rumors and leaks have emerged about what iOS 18 and its AI-powered apps and features have in store. What to expect from Apple's AI-powered iOS 18 at WWDC 2024 Apps Apple's Design Awards highlight indies and startups Sarah Perez 1 day ago Apple's annual list of what it considers the best and most innovative software available on its platform is turning its attention to the little guy. Apple's Design Awards highlight indies and startups Apps Meta rolls out Meta Verified for WhatsApp Business users in Brazil, India, Indonesia and Colombia Ivan Mehta 1 day ago Meta launched its Meta Verified program today along with other features, such as the ability to call large businesses and custom messages. Meta rolls out Meta Verified for WhatsApp Business users in Brazil, India, Indonesia and Colombia Apps Meta adds AI-powered features to WhatsApp Business app Ivan Mehta 1 day ago Last year, during the Q3 2023 earnings call, Mark Zuckerberg talked about leveraging AI to have business accounts respond to customers for purchase and support queries. Today, Meta announced AI-powered... Meta adds AI-powered features to WhatsApp Business app Apps TikTok is testing Snapchat-like streaks Ivan Mehta 1 day ago TikTok is testing streaks that are similar to Snapchat's in order to boost engagement, including how long people stay on the app. TikTok is testing Snapchat-like streaks Transportation Inside Fisker's collapse and robotaxis come to more US cities Rebecca Bellan 1 day ago Welcome back to TechCrunch Mobility -- your central hub for news and insights on the future of transportation. Sign up here for free -- just click TechCrunch Mobility! Your usual... Inside Fisker's collapse and robotaxis come to more US cities Transportation Revel to lay off 1,000 staff ride-hail drivers, saying they'd rather be contractors anyway Rebecca Bellan 1 day ago New York-based Revel has made a lot of pivots since initially launching in 2018 as a dockless e-moped sharing service. The BlackRock-backed startup briefly stepped into the e-bike subscription business.... Revel to lay off 1,000 staff ride-hail drivers, saying they'd rather be contractors anyway Apps Google Play cracks down on AI apps after circulation of apps for making deepfake nudes Sarah Perez 1 day ago Google says apps offering AI features will have to prevent the generation of restricted content. Google Play cracks down on AI apps after circulation of apps for making deepfake nudes Commerce Amazon slammed with PS1.1B data abuse lawsuit from UK retailers Ingrid Lunden 1 day ago The British retailers association also takes aim at Amazon's "Buy Box," claiming that Amazon manipulated which retailers were selected for the coveted placement. Amazon slammed with PS1.1B data abuse lawsuit from UK retailers Featured Article Rivian overhauled the R1S and R1T to entice new buyers ahead of cheaper R2 launch Rivian has changed 600 parts on its R1S SUV and R1T pickup truck in a bid to drive down manufacturing costs, while improving performance of its flagship vehicles. The end goal, which will play out over the coming year, is an existential one. Rivian lost about $38,784 on every vehicle... Kirsten Korosec 1 day ago Rivian overhauled the R1S and R1T to entice new buyers ahead of cheaper R2 launch Media & Entertainment Twitch DJs will now have to pay music labels to play songs in livestreams Lauren Forristal 1 day ago Twitch has come up with a solution for the ongoing copyright issues that DJs encounter on the platform. The company announced Thursday a new program that enables DJs to stream... Twitch DJs will now have to pay music labels to play songs in livestreams About * TechCrunch * Staff * Contact Us * Advertise * Crunchboard Jobs * Site Map Legal * Terms of Service * Privacy Policy * RSS Terms of Use * Privacy Placeholder 1 * Privacy Placeholder 2 * Privacy Placeholder 3 * Privacy Placeholder 4 * Code of Conduct * About Our Ads Trending Tech Topics * WWDC 2024 * Carta Valuation * Byju * Rivian * Tech Layoffs * ChatGPT * Facebook * X * YouTube * Instagram * LinkedIn * Mastodon * Threads (c) 2024 Yahoo. All rights reserved. Powered by WordPress VIP