Lumo, a California-based agtech company focused on water sustainability, announced that it has raised $2.1M in pre-seed funding led by Fall Line Capital, a VC focused on farmland and sustainable agriculture technologies.
The US company will use the funds to develop and commercialise Lumo’s smart irrigation system.
Solving water crisis
Globally, the UN is predicting a 40% shortfall in freshwater resources by 2030 and with irrigation accounting for 70 per cent of total freshwater used globally, it’s now more important than ever for the agricultural industry to leverage modern technology to protect one of the world’s most precious natural resources.
Through a smart irrigation system
Founded by Devon Wright and John Hinnegan, Lumo is a smart irrigation system that helps growers save water, improve crop quality and reduce costs.
The system offers a wireless, cloud-managed water valve network that will enable growers to optimise water usage to improve crop quality and reduce overhead costs.
“Preserving fresh water requires fresh thinking,” says Devon Wright, CEO of Lumo. “Climate change and population growth are forcing governments and farmers to adopt new water management technology. Currently, the systems that farmers are using for managing and tracking irrigation are broken and wasteful. Lumo’s technology will not only help them in terms of productivity and profitability but as the stewards of our planet, give them the much-needed innovation they’ve been waiting for.”
According to the company, smart valves with built-in sensors provide automation, precision, and advanced reporting that manages planned versus actual water consumption.
“Water is one of our most critical resources in agriculture. Yet, very few companies are tackling the problem in a practical and scalable way,” says Baptiste Tellier, Director at Fall Line Capital. “The Lumo team’s unique blend of hardware and software expertise will enable them to engineer irrigation controls that optimize for reliability and deployment. We look forward to working with them to bring their product to market and provide solutions for farmers facing climate change challenges and operating cost increases.”
