SEIDOR acquires a stake in IKOS Tech to boost its technological solutions for the agronomy sector

29 November 2022 - SEIDOR, a technology services and solutions consultancy, continues to grow in the agronomy sector following its acquisition of a stake in IKOS Tech, a company specialising in solutions to optimise and manage the agronomic management of crops through the use of the Internet of Things (IoT), Big Data and Artificial Intelligence (AI). SEIDOR Ventures has managed the investment to finalise the shareholding in IKOS Tech.

With its acquisition of a stake in the company born in Adra (Almeria), SEIDOR consolidates its link with IKOS Tech to strengthen its portfolio of technological solutions and services applied to crop management and, in particular, advances in its Agriculture 4.0 proposal. Both companies will thus offer more value to their customers, combining their solutions in IoT and AI for the agronomy sector and their integration with SEIDOR-AGRO, a solution that SAP has approved for the sector.

With the integration of the two companies, the consultancy takes a further step in the precision agonomy market to make its portfolio of solutions available to new clients and organisations, helping them overcome their business challenges and achieve their goals.

Founded in 2019, in just over two years, IKOS Tech has gone from a start-up to a company with international projection in the digital agriculture sector, positioned as a pioneer by managing to combine data with Artificial Intelligence and turn it into a reality and transfer it to producers. The company offers the market different technological solutions, of which the main element is the data generated by its devices and combined with Artificial Intelligence algorithms to provide producers with the necessary information to make the best decisions, reducing the use of water and energy and the contamination of aquifers.

Doubling annual turnover

In addition to the sale of its devices, another of IKOS Tech's strengths is IKOS CLOUD SERVICES, a platform for developing algorithms for third party companies which facilitates the acceleration of processes and improves products or services.

This set of capabilities has led to the company's exponential growth, doubling its turnover with respect to 2021, a reality that consolidates IKOS Tech's position as one of the leading AG-TECH companies in the market. It should also be noted that all this growth has been financed with its own resources and that, now, with its acquisition of a stake in the company, SEIDOR will accompany the process of international scalability of IKOS Tech's solutions and expand its portfolio of digital solutions.

Greater water efficiency and resource savings

IKOS Tech was one of the entrepreneurial projects chosen to participate in the first edition of the Cajamar Innova incubation programme, which aims to identify innovative technologies and ideas that will transform the water sector by providing effective solutions to water problems. In this regard, it should be noted that SEIDOR mentors the three programmes related to improving technology for water management promoted by Cajamar Innova.

Specifically, this Almeria-based start-up was created to develop a technology that, moving beyond mere prediction, would indicate to the farmer the precise moment for irrigation and the amount of water needed. In this way, by using data, IKOS Tech increases water efficiency and also saves on the use of fertilisers and energy consumption.

Albert Siré, director of SEIDOR Ventures, said that "through this investment, SEIDOR becomes a strategic partner of IKOS Tech, which will allow both companies to provide more value to customers, bringing together IoT and AI solutions for the Agro sector." "At Seidor, we will also help speed up the company's growth and increase its chances of success in the market," added Siré.

Joaquín Soriano, co-founder and CEO of IKOS Tech, said that "the solutions we offer farmers are very well received, especially in a current context with an unstoppable rise in energy costs, production costs and a growing water shortage, so the future of the countryside is to optimise every last drop and that, without measurement, is impossible".

Soriano also remarked that "the technological platform developed by IKOS Tech makes available to the agricultural sector not only the hardware to measure, but also the software, KPIs and the algorithms necessary for the producer to interpret the data quickly and easily, simplifying decision-making and optimising water use, allowing the producer to activate irrigation at the right time, without the need to intervene."