Business Capital has secured a $5MM growth capital facility for Hortau, a SaaS/Ag platform and pioneer in designing and manufacturing technology-enabled soil monitoring and irrigation management systems for agricultural applications. Its patented products enable the wireless, accurate management of crops in real time and are scientifically proven to improve yields, reduce environmental impact and energy costs, and maximize fertilizer and water efficiency.
“Working with Business Capital was a great, positive experience for our team,” said Hortau CEO Jocelyn Boudreau. “Their insight into the process and professionalism was of critical value. Business Capital proved to be key advisors, moving swiftly to secure the optimum financial solution during this time of high-growth for our company. This investment will help us fuel the business and focus on providing our customers with best-in-class precision irrigation services, during what is a critical time for water resources in agriculture.”
Hortau currently has 5,000 monitoring stations and 25,000 sensors installed across over 600 farms spanning the US and Canada which gather over 100,000 data points per hour. It plans to continue rapid expansion to service a greater number of growers helping them increase sustainability, productivity and achieve optimum efficiency and positive change in the agricultural industry.
“Obtaining this financing was especially rewarding in light of the unprecedented environmental challenges we are experiencing out west,” said Chuck Doyle, Managing Director of Business Capital. Just last week, a group of California growers officially conceded to find ways to cut their water consumption by one quarter. Helping drive a company like Hortau, that is at the forefront of developing innovative solutions to save water and preserve our planet’s other precious resources, is critical.”
Business Capital is a leading commercial finance and debt restructuring firm specializing in securing customized debt based solutions for rapidly growing as well as challenged small and middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially in situations where conventional capital sources are not an option.