New investors lead Trellis funding round, completes first closing
OurCrowd investors can join round for food system intelligence provider
- Completed first closing led by IL Ventures with participation from Erez Ofer of 83North, both new investors; secured deferred closing
- New partnerships with Microsoft AI for Good, Microsoft Industry Cloud
- Opened offices in Napa, California and Melbourne, Australia to serve local wineries
- Customers include top-tier wineries Treasury Wine Estates, Santa Rita, Pernod Ricard
- Multi-year agreements with global producers each yielding hundreds of thousands of dollars in ARR
- 120% YOY ARR growth forecast by end 2022, 260% YOY growth by end 2023
"We've been able to quickly onboard Trellis to make well-informed decisions that have created critical efficiencies across our operations"
– Matt Johnson, VP winemaking operations, Treasury Wine Estates
BOOK A CALL
with your Investor Relations representative
Dear Josb,
A supply-chain crisis, building for years, is now a full-scale emergency due to the double whammy of the Covid-19 pandemic and Russia's invasion of Ukraine.
Artificial intelligence-powered technology created by Trellis enhances legacy supply chain data systems to provide 10X better control over quality and risk.
Trellis provides insights that allow early notification of grower yield, quality, timing, and cost of agricultural, commodities and raw ingredients. The platform enables food and beverage manufacturers to optimize their supply chain, increasing efficiency and revenues while cutting waste and emissions. OurCrowd is reinvesting in Trellis. The details in this email are based on information received from, and verified solely by, the company.
As you will recall, Trellis has created an AI-powered platform that gives producers unprecedented predictions of crops, weather, yields, inventory, and other vital information, based on cognitive learning from multiple data points.
The company targets mid to large-sized customers in the wine and beverage industries, projected to be a $2T market in 2030. It plans on expanding to processed foods industries in the future.
Recent Traction
Since OurCrowd launched this opportunity in May, the company reports the following significant developments:
New investors: Trellis secured the first closing of this round led by IL Ventures with participation from Erez Ofer, a Venture Partner in 83North, both new investors.
Secure runway: The company will raise enough cash in the first and deferred closings to secure a 12-month runway for its continued operations.
Microsoft partnerships: Trellis was invited to join Microsoft's AI for Good Acceleration Program, which helps purpose-driven ventures in Israel advance their AI solutions to create positive social transformation. As a result, Trellis is joining forces with Microsoft Industry Cloud to allow faster cloud onboarding and end-to-end supply chain integration to leverage Trellis AI models directly from Azure on top of SAP, Oracle, Dynamics and other legacy data systems. Trellis is building both GTM and technical integration with Microsoft's agriculture cloud program to solve global food security problems.
New offices: The company opened its first offices in Napa, California, and Melbourne, Australia. These locations will help engage key players in the local wine industry, a key focus of the company, in each area.
The company also reports the following recent milestones:
Marquee customers: Trellis has multi-year agreements with three of the world's top wineries: Treasury Wine Estates, Santa Rita, and Pernod Ricard. Another customer is Prodalim, one of the world's biggest juice producers. Users report a 5% increase in profits and a 50% cut in emissions. "Trellis gives our team one source of truth – a holistic, accurate view of all of our business, field and operational data," says Matt Johnson, VP winemaking operations at Treasury Wine Estates. "We've been able to quickly onboard Trellis to make well-informed decisions that have created critical efficiencies across our operations."
Revenue growth: Based on its existing roster of four major customers and a robust pipeline, the company forecasts 120% YOY ARR growth by the end of 2022, and a further 260% YOY growth by the end of 2023.
Recurring revenues: The company's multi-year agreements each yield hundreds of thousands of dollars in annually recurring revenues (ARR) based on its SaaS business model.
The Team
Trellis is led by alumni of the renowned Israeli Military Intelligence Unit 8200 and the elite Talpiot innovation program with extensive experience in data science, artificial intelligence, machine learning, decision optimization, climate change economics and enterprise software. Yair Reem, a partner at Extantia Capital, will be joining Trellis as a board member to help guide strategy, positioning, and growth. Reem will complement the COO Calanit Bar-Am, with her 20+ years of experience building GTM teams, M&A, developing joint ventures and other commercial agreements while bringing Trellis' product to market.
The Round
OurCrowd is investing up to $1M in this up to $5M round led by the aforementioned IL Ventures with participation from Erez Ofer, both new investors. Existing investors include Angular Ventures, BtoV Partners S.a.r.l., and Cyrus Angel Fund II.
Meet the CEO
Watch an investor briefing with CEO Ilai Englard and learn more about Trellis.
The Trellis Solution
Trellis provides food manufacturers with an enterprise SaaS/Cloud solution that solves food supply chain optimization problems. By integrating and enriching data from various sources across the supply chain, Trellis consolidates siloed data from farming, planning agricultural production, harvesting, handling, storage, food processing, market demand and consumption. Trellis can give accurate predictions about the biggest pain points in the supply chain for food companies.
Trellis has collected millions of historical data points which helps give crucial intelligence, including historical and real-time data from weather patterns, satellites, supply chain networks, yields, timing, prices, irrigation, fertilization, field samples, factory production, and more.
Next steps:
0 Comments