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Saffron Tech

Vertical Farming
Product stageSegments
Early
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Farm Operators: Hydroponics
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Based in Israel, Saffron Tech, a subsidiary of Sativus Tech , focuses on cultivating saffron in a controlled and remotely managed environment that can produce yield all year round. The company provides various products, including premium saffron spice, science-backed extracts for food supplements and cosmetics, and consumer brands. The company uses vertical farming technology, which claims to save on fertilizer, energy, and water consumption compared with traditional farming. Furthermore, Saffron Tech claims that it’s 40-meter container can produce yield equivalent to 1 dunam field (1 acre). The company claims to be the first and only company to develop year-round indoor vertical saffron cultivation. It also claims to produce 44x higher yield than conventional saffron farming. As of December 2023, the company had not yet fully commercialized its products.

Key customers and partnerships

In March 2022, Saffron Tech signed a non-binding letter of intent (LOI) with Naveh Pharma, a pharmaceutical and healthcare products company, to develop saffron-based cosmetics. In March 2023, Saffron Tech signed a USD 2 million investment agreement with Korean company Dreamtech to create a large-scale production of saffron in Korea to be used in beauty, wellness, and pharmaceutical applications. 

Funding and financials

 In January 2023, Saffron Tech raised USD 1.3 million in a crowdfunding campaign, with the contribution coming from 650 new investors to continue its R&D program and execute its market entry. In April 2023, the company received a USD 1 million grant from the Israeli Innovation Authority to build a pilot facility for growing saffron with vertical farming technology.

Vertical Farming

Vertical Farming

Key stats
Featured companies
103
Total funding (USD)
5.7 Bn
Total addressable market (USD)
36.4 Bn
Key competitors
 
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Company Brief


HQ location:
Tel Aviv ISR
Founded year:
2020
Employees:
1-10
Total Funding:
USD 2.3 million
Last Funding
USD 1.0 million, Mar 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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