Israeli agtech startup Prospera snapped up by U.S. firm Valmont for USD 300 million
Valmont Industries, Inc., a U.S. maker of irrigation and infrastructure equipment, announced its agreement to buy Israel’s Prospera Technologies, a maker of artificial intelligence-based sensors and cameras for monitoring crops, for USD 300 million.
The merging of the firms will create the “largest global, vertically-integrated artificial intelligence (AI) company in agriculture,” the companies said in a statement.
Goldfarb Seligman is representing Prospera in this significant transaction, led by Adv. Michael Heller, Vice Head of our International Corporate and Securities Department: partner Sharon Aloni and associates Daniel Kahn, Amir Yariv, Adv (CPA), Yoni Braunold, Dana A. Brody, Maya Dagan and Michal Itkin and interns Or Cohen, Pinhas Ancselovits and Nicole Dillon of the department; Co-Head of our Tax Department Yaron Sever, partner Sagit Shoval-Moked and associates Lidor Almasy and Yarden Ravivo; and partner Revital Shprung-Levy of our Labor and Corporate Immigration Department.
Founded in 2014 by Koppel, Shimon Shpiz and Raviv Itzhaky, Prospera has been backed by investors including Bessemer, Qualcomm, Cisco, More VC and Tekfen. The startup has been listed among the World Economic Forum Technology Pioneers and CB Insights Top 100 AI Companies.
