Following the successful completion of the Series A fund round totalling $5.5 million, Virridy, an environmental tech startup, plans to expand its services to North America and Africa.
The company claims it will hasten the production of “satellite-connected sensors for agricultural resources and managing energy especially. Shareholders also participated in the funding round: VertueLab, CleoCapital, Save Earth, and FHI360.In addition to the funding, Virridy changed its name to Sweet sense to show that it is committed to ensuring high-quality environmental goods.
In a press release, the company says, “In Ethiopia and Kenya, Viridy’s budget satellite-linked sensors are used to control water boreholes. This lets the government agencies in charge of maintenance make the best use of their resources to make sure that communities always have access to water for their crops and livestock.”
“Virridy is working with groups like USAID, World Bank, Millennium Water Alliance, Swarm Technology, Science Foundation and NAS to keep water supplies steady for more than four million people.”
This round of funding comes at a time when climate change continues to quicken the global environment’s degradation and the strain on the global economy. There are currently two billion people in the world at risk of not having enough food to eat, one-third of the world’s agricultural land has been degraded, and there are currently two billion people living with chronically high water stress.
Furthermore, Virridy is collaborating with Wexeus Technology and Freshwater Trust to assist farmers in the Western part of the US prone to drought, improving and managing groundwater consumption and pumping while generating revenue via automated direct response and earning savings.
Dr Evans, CEO of Virridy, said”We are happy that Virridy’s analytics and sensors are making environmental markets possible, such as carbon credits, energy incentives, and water permits. He added their team were the first to bring carbon financing to the market fifteen years ago. They are helping the market at scale for water conservation, access, energy conservation and soil carbon.
Chris Lackner, the managing director of Accord Capital, expressed his excitement about the company’s decision to collaborate with Virridy to sustain the company’s continued innovation and growth. We know that the strong backgrounds of the management team will help Virridy become the top data and sensor provider for monitoring environmental resources.” He added