The WBAF Fund, the angel investment fund of the World Business Angels Investment Forum, an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), announces that BrioAgro Technologies of Spain has closed an investment deal with the Fund. BrioAgro Technologies joined the Global Fundraising Stage of the World Business Angels Investment Forum last February in Istanbul as a part of the startup delegation of the Andalucia Government of Spain. It was one of the startup ventures to proceed to the next step towards receiving funding from the WBAF Angel Investment Fund.
BrioAgro Technologies has recently been awarded by the European Commission’s EIT Food initiative as the startup that can best help solve the problem of water scarcity in southern Europe and has recently started its international expansion into Mexico and Italy.
BrioAgro Technologies uses an innovative technology that allows watering crops just when they need it. In this way, it achieves water savings of between 20% and 50%, depending on the type of crop and soil. This intelligent irrigation is coupled with a reduction of energy costs for irrigation, fertilizers and phytosanitation, as well as a reduction of labour dedicated to irrigation, which will ultimately lead to a reduction of costs that benefit the economy of the farmer and create significant improvements in environmental sustainability.
According to the United Nations, in 2025 1.8 billion people will have absolute water shortages, and 2/3 of the world will live in water-stressed conditions. BrioAgro Technologies has recently been acclaimed by the European Commission’s EIT Food initiative as the startup that can best help solve the problem of water scarcity in southern Europe, if farmers, who consume between 70% and 80% of available fresh water, start using their technology.
BrioAgro has more than 250 installations, most of them in Spain, with first-class clients in the agro-food industry. BrioAgro has accumulated experience in more than 40 different crops and has recently started its international expansion into countries such as Mexico and Italy.
José Luis Bustos, Chief Executive Officer of BrioAgro Technologies, says, ‘’Apart from the economic investment, the investment agreement with the WBAF Angel Investment Fund stands out for its strategic aspect, since the use of these funds is destined to the international expansion of BrioAgro Technologies. BrioAgro Technologies will be able to accelerate thanks to the support of the great network of international contacts of the World Business Angel Investment Forum. The Forum has a presence in 127 countries with more than 600 representatives.’’
Fran Guillén, co-founder and Chief Operations Officer of BrioAgro Technologies, says, ‘With the signing of this agreement, BrioAgro begins its strategy to build a network of partners to help in the expansion in different countries, creating logistical and commercial points in each country to bring innovative and practical technology to farmers, transmitting the know-how of BrioAgro Technologies to local partners to make a joint business. It will involve WBAF members who want to participate in the business and who also wish to contribute to the great mission of fighting against water scarcity.’’
Israel Pons, President of the Executive Investment Committee of the WBAF Angel Investment Fund, says, ‘’As an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), the World Business Angels Investment Forum (WBAF) aims to ease access to finance for businesses from startup to scaleup to exit, with the ultimate goal of generating economic development, jobs and more social justice worldwide. To achieve this goal, in addition to business angels and private equity funds investing in startups of the Global Fundraising Stage (GFRS), WBAF launched an angel investment fund, which is an international co-investment platform for investing in the startups and scaleups of the Global Fundraising Stage.
BrioAgro Technologies was one of the startup ventures we chose to proceed to the next step for receiving funding after they made an impressive pitch on the Global Fundraising Stage last February in Istanbul. It has taken a little bit longer than expected to proceed to closing the deal because of the pandemic, but WBAF and the BrioAgro Technologies teams are very passionate about the move to the next level. I am very happy Mr Covid didn’t stop us.’’
Pons continued, ‘’The WBAF Angel Investment Fund’s 2021 deal flow will be generated from the GFRS 2021. It is anticipated that (a) the Fund will invest in 10 or more startups, depending upon the total amount of capital committed and that (b) no more than 10% of the Fund’s amount will be invested in any one company. The next Global Fundraising Stage will be held at WBAF’s virtual World Congress on 15–21 February 2021. I believe it will provide a unique opportunity to selected startups and scaleups to pitch their businesses.’’
As a listed venture of the 2020 FoodTech 500 finalists, ‘Fortune 500’ list of AgriFoodTech of 2020, BrioAgro aims to help farmers around the world to be more competitive by getting better harvests and saving costs, while contributing to environmental sustainability, combating water scarcity and climate change.
An affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), the World Business Angels Investment Forum (WBAF) is an international organisation aiming to ease access to finance for businesses from start-up to scale-up, with the ultimate goal of generating more jobs and more social justice worldwide. It is committed to collaborating globally to empower world economic development by creating innovative financial instruments for innovators, start-ups, and SMEs. The Forum interacts with leaders in all areas of society, first and foremost in business and political spheres, to help assess needs and establish goals, bearing in mind that the public interest is of paramount importance. WBAF engages a wide range of institutions, both public and private, local and international, commercial and academic to help shape the global agenda.
The WBAF Angel Investment Fund is designed to capitalise on the worldwide growth in entrepreneurial activity and venture financing for startups and scaleups and to benefit from WBAF’s extensive network of global investors, including angel investors, private equity funds, co-investment platforms, wealth management institutions, family offices, VCs and acceleration centres.