ImpactAlpha, November 12 – Bridges Israel has invested an undisclosed amount in Israeli-based drip irrigation firm NDrip.
NDrip makes drip-irrigation technology that relies on gravity. Its system is meant to help steer large-scale agriculture away from wasteful flood irrigation, which is how the majority of the world’s crops are grown.
Bridges Israel, the Israel-based $50 million sister fund to Bridges Fund Management, launched earlier this year with a mission of supporting Israel’s underserved communities and backing “tech for good” companies based in Israel.
Bridges Israel’s Ran Grodecki told The Times of Israel that the fund was backing NDrip for its “potential to generate significant global impact, socially and environmentally, helping to solve two major global challenges: the growing water shortage and the increase in food insecurity.”
The investment, reportedly to the tune of several million dollars, was part of NDrip’s Series A round. It marks Bridges Israel’s second investment since July, when it backed tech startup Venn.