iyris, previously known as “RedSea,” a leader in sustainable climate agricultural technologies, has secured $16 million in its Series A funding round spearheaded by the Ecosystem Integrity Fund (EIF) and saw participation from existing and new investors, including Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, and Bonaventure Capital.
Founded in 2018 by Ryan Lefers, Derya Baran, and Mark Tester, iyris addresses global food security challenges while minimizing environmental impact. The company supports growers worldwide in increasing crop yields, reducing input costs and risks, and extending growing seasons in some of the most challenging agricultural environments.
The newly acquired funds will bolster the international sales pipeline for iyris’ SecondSky greenhouse covers and nets, and aid in the development of innovative heat-blocking products and resilient plant genetics. These advancements align with Iyris’ commitment to empowering farmers to sustainably mitigate climate change impacts, enhance food security, and achieve key United Nations Sustainable Development Goals (UN SDGs).
John Keppler, Executive Chairperson of iyris, stated, “We are building a great company, making it easier for farmers to grow fresh produce in increasingly difficult climates. There are few problems more challenging than feeding the world sustainably. iyris is assembling the necessary toolkit to help farmers improve crop yields with fewer resources.
“In just a very short time, we have brought our products to market and proven that they work. But we have a lot left to do, and the completion of our Series A fundraise enables us to take the next steps in expanding sales of our drop-in solutions for heat blocking and crop resilience to our grower customers around the world.”
Sasha Brown, partner at EIF, said, “EIF has been studying the impact of increasingly extreme weather on agriculture. iyris’ suite of products is tailored for growers in harsh and volatile conditions, who have historically been underserved by AgriClimate Tech innovation. These growers, who often operate on thin margins, have few options to better manage their farms to reduce the risk of crop loss, increase yields, and reduce water and energy consumption.
“We have invested in iyris because we believe there are few companies that have such tremendous potential to become a critical partner for a mass market of growers as they seek to adapt their operations to withstand and mitigate changing climates.”
iyris is marketing its flagship product SecondSky polycarbonate, polyethylene, nets, and soon-to-be-launched shade screens to growers in the UAE, Saudi Arabia, Egypt, Morocco, Spain, Portugal, Mexico, and North America. Additionally, The company has developed plant genetics through a hybridization process that breeds resilience to salinity, heat, and drought across various crops, ensuring dependable food production. This has already shown promising results with some of the world’s largest tomato growers.
Serving a global market with over $6 billion in annual recurring sales for greenhouse covers, iyris’ solutions offer significant benefits, including extended growing seasons, increased yields, and resource savings, supporting local, regional, and global food supply chains. Farmers in Iyris’ target markets benefit from quick investment payback periods, sometimes within a single crop cycle.
iyris’ proprietary technologies can reduce energy and water consumption by up to 90% in target markets. The award-winning SecondSky transparent heat-blocking greenhouse roof has reduced energy usage by over 40% and water consumption by 30% in customer installations.
