North Vancouver, BC – March 16, 2017 – Ecoation Innovative Solutions Inc., a Wavefront Venture Acceleration Program alumnus, announced today the completion of a successful Seed financing. The financing was initiated in November 2016 and closed on March 16, 2017. The Seed financing raised $1 Million and was significantly over-subscribed. Angel investors from North America and the European Union participated including investors from the Creative Destruction Lab and the Vancouver Angel Forum. Many of our investors are entrepreneurs with highly successful company ventures in information technology, artificial intelligence, banking and agriculture who have validated our AI technology and business plan through extensive diligence.
Dr. Saber Miresmailli, CEO and founder of Ecoation Innovative Solutions stated that “we are very excited to have completed our Seed financing with such an experienced and successful group of investors. We look forward to engaging their knowledge and experience as the company transitions from product development to paid field trials and subscription sales of our novel crop health monitoring and prediction system.”
Funds will be used to launch commercial sales starting with greenhouse growers in North America in 2017 and then expanding to Europe and Asia. Key activities include building a world class field services team who will support the implementation and operation of the EIS crop health system. Funds will also be used to expand sales, marketing and intellectual property.
Ecoation Innovative Solutions Inc.
For greenhouse growers of high value crops, Ecoation Innovative Solutions provides the earliest possible detection of pests, diseases and deficiencies that affect crop value. We collect novel data on plant state and use proprietary AI software to predict crop health. Our system brings crop status to a grower’s desktop or smart phone daily. With our system, growers can take immediate actions that increase crop value, reduce operating costs and reduce pesticide use. Since inception, the company has won numerous awards for agriculture technology innovation. Ecoation is a partner with the United Nations Climate Technology Center, and was part of an international team of experts funded by the Bill and Melinda Gates Foundation to assist farmers in West Africa with pest management. Our made in Canada technology is available now with paid field trials underway in BC greenhouses. Ecoation Innovative Solutions Inc. is a private Canadian corporation with Head Office in North Vancouver, British Columbia.