ImpactAlpha, May 3 — New York-based private equity firm Lightsmith Group raised $186 million to invest in companies with data and technology for climate resilience. It’s latest investment: Solinftec, which offers farmers in the U.S. and Latin America software and hardware to manage operations more sustainably.
“Solinftec helps build climate resilience because it factors in real-time weather data and forecasts to help farming operations become more responsive to changing weather and climate conditions,” Lightsmith’s Sanjay Wagle told ImpactAlpha.
“Other events, such as rising inflation and Russia’s invasion of Ukraine, have driven up the prices of fertilizers and other inputs and are only adding to the pressure on farmers to increase operational efficiency.
Solinftec says clients use its platform and services to manage more than 27 million acres of sugarcane, soy, corn, cotton, coffee, timber and other crops.
“Solinftec’s customers include 85% of Brazilian sugarcane growers, the top 5 grains producers in Brazil, and GROWMARK, one of North America’s largest agricultural coops,” said Wagle.
Lightsmith led Solinftec’s $60 million round, bringing its total raised to date to nearly $147 million. The company says it will deploy sensors to help farmers predict weather conditions and collect real-time data on crops.