Lumo, a connected irrigation company that uses patented smart-valve technology to help growers save time, money, and water, announced it has raised a $7 million funding round from Active Impact Investments and Fall Line Capital.
This funding round will enable Lumo to continue investing in product research and development, and rapid go-to-market expansion. This brings accountable technology to every element of irrigation operations and delivers on Lumo’s mission to help protect the future of farming. Dozens of world-renowned growers in Napa, Sonoma, and the Central Coast are already using Lumo One smart valves to automate their irrigation, monitor flow rates remotely, and gain better visibility into the performance of their irrigation systems.
Active Impact (Canada’s largest climate tech seed fund) was a natural fit for Lumo given their dedication to building climate resiliency and sustainability into our food and water systems, catalyzing change, and solving the most urgent environmental issues facing humanity today.
With growers continuing to contend with cost pressures and softening revenue, the need for a reliable and trustworthy way to automate irrigation has never been greater. Growers who make technological investments to contain costs and protect their revenue today will be best positioned to profit tomorrow.
As Lumo expands its product offering and geographic footprint, it will continue its relentless focus on providing farmers with support online and in the field.
KEY QUOTES:
“As labor costs continue to rise, groundwater regulations continue to pass, and the impacts of climate change continue to be felt, time is of the essence. Growers need to move quickly to take tighter control of their water management practices, irrigate with greater precision, get ahead of regulations, and eliminate waste from their operations. Our future food and water security depends on upgrading our irrigation infrastructure and improving our water stewardship as soon as we possibly can.”
– Devon Wright, Lumo’s CEO
“Acute water stress affects half the world’s population and is accelerating with climate change. Lumo addresses the shockingly high amount of inefficiency in agricultural irrigation, which is the largest use of our world’s water today. With fast-paced customer adoption, an impressive founding team, and a truly differentiated solution, Lumo is well-positioned to become a market leader in irrigation automation and, in time, the world’s largest system of record for water use data.”
– Mike Winterfield, Founder and Managing Partner at Active Impact, who will also be joining Lumo’s Board of Directors
“While automated irrigation is well adopted in row crops, we have not observed that trend in specialty crops due to the unique management needs and the importance of reliability. Lumo’s system leverages advances in fluid dynamics and connectivity that enables automation in specialty crops. Irrigation management will be key to optimizing production and adapting to volatility of water availability.”
– Libby Spalding, Vice President at Fall Line Capital
