ECBF leads €10m Series B investment in Trapview to expand its sustainable agriculture technology portfolio

• With its AI-based solution for insect monitoring and forecasting, Trapview helps reduce the use of pesticides and promotes more sustainable agricultural practices.
• With this investment, the European Circular Bioeconomy Fund (ECBF) supports a European champion offering digitally-enabled precision farming technologies to make our food system more sustainable.
• The investment also aligns with the EU Green Deal objective of reducing pesticide usage on farms by 50% by 2030.

Together with the European Circular Bioeconomy Fund (ECBF), Demeter and Pymwymic, Trapview (www.trapview.com) has successfully closed its €10m Series B financing to accelerate the commercialisation of its digital insect monitoring and forecasting solutions. Developed by the Slovenian company EFOS, Trapview solutions are present in more than 40 countries around the world and in crops ranging from tomatoes in Brazil and almonds in California to vines in Italy and salad greens in France and Spain. Trapview’s automated traps send real-time data to farmers about the pest situation in their fields and use artificial intelligence to analyse and predict the development of pest dynamics. Farmers can then take informed and timely crop protection measures in a targeted manner instead of spraying entire crops with pesticides preventively. This gives farmers the possibility to work more sustainably and efficiently at the same time as significantly reducing production costs by reducing pesticide usage. Trapview can monitor more than 50 insect species, bringing value to a large spectrum of farmers and other stakeholders in agriculture. With thousands of traps deployed in fields, the company currently owns the largest database of pest data and predictive algorithms in the world.

Stéphane Roussel, Partner at ECBF, comments: "With thousands of AI-powered pest control solutions deployed in the field, Trapview offers the world’s leading platform for remote insect monitoring and forecasting. In recent years, despite COVID, Trapview has gained significant momentum with farmers and value chain partners in Latin America, Europe and other regions. Our investment will give Trapview the resources to accelerate international expansion and meet the growing demand for its automated traps and software solutions."

ECBF leads Trapview’s Series B financing round of €10m alongside investors Demeter and Pymwymic. Founded in 2020, ECBF invests in deep-tech companies that support the transition towards a more sustainable and bio-based economy. With this new investment, the impact fund aims to help farmers grow healthier food and supports more sustainable agricultural practices. Other investors in the financing round also include Demeter from France via the VitiRev Innovation fund and existing shareholder Pymwymic an impact investment fund from The Netherlands.