Dutch company VanderSat has raised several million euros to help further develop their patented satellite technology leveraged by global re/insurance firms AXA and Swiss Re.
VanderSat operates internationally and can accurately measure the location and amount of water in the soil, anywhere in the world.
Accurate and reliable data is used not only by large agricultural companies, but also by insurers to calculate the risks and possible damages to crops.
The technology also gives uninsured farmers, for example farmers in remote areas, access to crop data and therefore greater financial security.
“With this investment we are able to make a more substantial impact. We strongly believe that satellite technology will play an important role worldwide in fighting the food and water crisis,” said Thijs van Leeuwen, Chief Executive Officer of VanderSat.
“With the trust and constant feedback of our clients, we can build the best products together. The investment of Social Impact Ventures gives us even more strength and confidence to continue our work.”
Helmer Schukken, Partner Social Impact Ventures, added, “VanderSat’s technology and team provide an essential solution to increase financial stability of millions of smallholder farmers worldwide and to increase the world’s food security.
“The current crisis makes us, as impact investors, even more determined to continue supporting and investing in companies that provide commercial and scalable solutions to the world’s most pressing problems. VanderSat is a textbook example of such company.”