New investment: N-Drip
Revolutionary drip irrigation saves water, fertilizer,and emissions
Liechtenstein Group has led a financing round of $44 million in the Israeli company N-Drip. Other investors include Hamilton Lane and Natural Ventures, as well as investors from previous rounds such as Granot Group, Bridges Israel, Kibbutz Ein Harod Ihud, and a group of US investors. N-Drip has developed a revolutionary and cost-effective drip irrigation system that operates solely on gravity. In the face of climate change and diminishing water resources, N-Drip's technology promises significant savings in water, fertilizer, and emissions, particularly for fields that have traditionally been flooded for irrigation purposes.
N-Drip uses clog-resistant proprietary drippers, allowing the irrigation system to function purely through gravity. As a result, no pumping stations, filters, or external energy sources are required, providing a significant cost advantage compared to other drip solutions. The system is also easy to install and requires minimal maintenance.
Globally, 85 percent of all irrigated fields, totaling more than 600 million acres, are flood irrigated. Flood irrigation is highly inefficient in terms of water consumption, leads to massive soil depletion, and, in certain crops such as rice, contributes to significant methane emissions, one of the most harmful greenhouse gases. N-Drip's irrigation solution demonstrates its strengths in this context: Farmers who switch from flood irrigation to N-Drip regularly achieve water savings of over 50 percent (depending on the specific crop), yield increases of up to 33 percent, a 50 percent reduction in fertilizer usage, and a decrease in greenhouse gases such as carbon and methane by 50 to 85 percent.
“We are pleased to support N-Drip in the global deployment of its irrigation technology, particularly in rice cultivation. N-Drip's technology complements that of our portfolio company RiceTec, which develops herbicide-tolerant rice seeds that are direct-seeded instead of flooded. We believe that the combination of these two technologies can transform the way rice is grown and significantly reduce the carbon footprint of rice cultivation,” said Johannes Meran, CEO and Managing Partner of Liechtenstein Group. “RiceTec is already collaborating with N-Drip on projects in our own rice fields.”
“N-Drip has enjoyed remarkable growth, with 7x growth in 2022, and more than 3x percent growth projected for this year,” said N-Drip CEO Eran Pollak. “The current funding round will support the company’s rapid growth at the same time as a global water crisis has farmers and policymakers looking for solutions that will allow them to continue to grow food and fiber, although with less water. Farmers will be able to make use of our transformative technologies to help assure stability and continued farm income while also joining the worldwide effort to meaningfully reduce agricultural greenhouse gases.”
N-Drip is a privately-owned company that has raised approximately $80 million, including the current funding round, from strategic and financial investors in the USA, Europe, and Israel.
The company is currently active in 17 countries, with its central management, development, and production based in Israel (company factory in Migdal HaEmek), and its main business operations in the USA, Australia, and India. N-Drip currently employs nearly 100 staff members in sales, research and development, production, engineering, and more.
N-Drip's founders are Prof. Uri Shani, who serves as Chief Technology Officer and Chairman, Dr. Ariel Halperin, and Ran Ben-Or. The CEO is Eran Pollak, former Deputy Director for Budgets in the Israeli Ministry of Finance. Other members of the management team include Tami Shor as COO and Einav Tabac as the company's CFO. For more information, please visit www.ndrip.com.