Israel: EdenShield completes raise of over $1 million for nontoxic pesticides
EdenShield's nontoxic technology for insect control is based on extracts of medicinal plants endemic to Israel's semi-desert. Leveraging the beneficial characteristics of desert plants, the product masks the odor of the crop and lowers insect attraction, causing the insects to simply pursue feeding options elsewhere.
Pests cause damage of more than $2 billion annually, by direct damage to crops or through the transmission of devastating viruses. Conventional chemical pesticides are ineffective, as insects quickly develop resistance, even in a single growing season. The EdenShield material sustains its efficacy throughout the entire growing season of the crop, and insects do not develop resistance to it. A natural material, the EdenShield product can be used close to harvest, without health risks associated with conventional pesticides.
The Company's first product (NET) is applied to greenhouse screens. Its second product (DIRECT) is applied directly to greenhouses flowers and medical cannabis. Tests demonstrated that EdenShield's product lowers greenhouse penetration of thrips, whiteflies, red spider mites, and tuta absoluta by over 90%.
The funds will be used to expand operations, establish a distribution network, and reinforce the Company's team.
Yaniv Kitron, CEO of EdenShield, remarked, "We are delighted with the completion of the financing round and the support of OurCrowd, which will enable us to commercialize our products and to respond to the great interest we are getting from farmers and partners."
Elan Zivotofsky, General Partner at OurCrowd, commented, "We are excited about our investment in EdenShield because of their unique 'green' value proposition and disruptive technology that addresses a major pain point in farming, globally."
For more information
EdenShield
Yaniv Kitron, CEO
T: +972-54-552-8820
Email: [email protected]
www.eden-shield.com
