Seeka Limited (NZX: SEK) Announces An Equity Investment in Fruitometry

Friday 9th July 2021

New Zealand's largest Kiwifruit Grower Seeka announces an equity investment in Fruitometry an innovative horticultural Agritech.

In its first year Fruitometry successfully delivering a new commercial Digital Crop Estimation (DCE) service to kiwifruit growers, managers and packhouses in the North Island. Fruitometry’s exclusive technology enables the $3 billion kiwifruit industry by growers being able to measure fruit set and growth by row throughout the growing season.

Seeka's minority investment of $2.6 million values Fruitometry at $10 million. Fruitometry will continue to operate independently while expanding their service.

Fruitometry's head office is in Katikati, Bay of Plenty. Fruitometry's purpose is to provide knowledge that empowers growers to efficiently manage their orchard, maximise their yield and provide accurate pre-harvest crop estimation for the entire value chain.

Fruitometry has been supported by Callaghan Innovation with a research and development project grant.

Fruitometry Director and Co-Founder Mike Ullrich said "We are thrilled to work with Seeka who are a significant leader in New Zealand horticulture. This investment will help us accelerate our product development, continue to build our innovative intellectual property and scale up our team and services. Agritech is a key driver to improve productivity and provide a competitive advantage for New Zealand companies and we are excited to be leading the way. We look forward to sharing more of our innovative services in the future."

Please see the links below for details

Fruitometry July 2021

Source: Seeka Limited

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