SAN DIEGO - Agnetix, a pioneer of advanced horticultural lighting and growth technology solutions for commercial indoor growers, announced the closing of its Series Seed Preferred funding. The funding round was notably oversubscribed and included a diverse group of private and institutional partners.
Agnetix provides advanced LED lighting technology solutions for cannabis and agricultural production that includes a powerful, highly-efficient, liquid-cooled LED grow lighting platform, designed to reduce operational energy costs by up to 50% and significantly improve crop yield. The sustainable lighting system is further enhanced with patented data capturing and control capabilities that deliver greater predictability and mitigate risks for cultivators.
In the last year, Agnetix achieved several notable growth milestones:
- Grew business globally with new clients and sales on 4 continents, 5 countries and across 11 states
- Expanded its North American reach by naming a premiere value-added Master Distributor in Canada, Okanagan Grow Tech Innovations
- Strengthened its core leadership team with the addition of Elisa Danielson as VP of Finance & Operations and Troy Robson as VP of Sales
- Awarded "Best Grow Lighting Product of the Year" by the Cannabis Independent Innovation Council for the Agnetix A3 Series
- Elected to the Resource Innovation Institute Founder's Circle and Technical Advisory Committee
The new round of financing will be used to fuel company growth initiatives including team expansion, supply chain capabilities and R&D efforts to further develop the hardware, software and data technology platforms.
Agnetix Co-Founder and Chief Technology Officer, Ihor Lys, PhD. notes, "We are pleased with the excitement that Agnetix received in this round of funding and we are eager to apply our expertise in digital LED technologies to propel the horticulture industry." Lys adds, "Securing this funding is a testament to the strength of our leadership team, business strategy and growing technology patent portfolio."Source : CISION