FruitSpec

About FruitSpec

FruitSpec is an agritech company founded in 2016 by Raviv Kula (CEO), Shahar Nitsan (COO), and Nir Margalit (CTO). The company provides a Yield Management Platform designed to give the entire fruit supply chain visibility into fruit yield data. FruitSpec aims to solve the problem of inaccurate early-season fruit yield estimations, which traditionally rely on manual counts from a small sample of trees.

The core of FruitSpec's offering is its patented technology that uses hyperspectral imaging, computer vision, and AI algorithms. Sensor pods are mounted on vehicles, such as tractors, that scan orchards during regular operations. This technology can distinguish green fruit from leaves early in the season, allowing it to automatically count fruit and estimate size distribution with a reported accuracy rate of over 90-95%. The system provides reports on fruit quantity and size distribution for individual trees and entire areas, as well as heat maps showing fruit distribution.

The company's business model is providing yield estimation as a service. It targets packing houses, growers, and juice manufacturers. By providing accurate yield forecasts six to seven months before harvest, FruitSpec enables clients to optimize operational, logistical, and commercial decisions, which improves profitability and efficiency across the supply chain. The platform connects previously disconnected departments like farming, picking, packing, and marketing.

Headquartered in Tel Aviv, Israel, FruitSpec has expanded globally with offices in Chile, the US, South Africa, and Spain. The company has secured significant funding, including a $4 million Series A round in 2019 and a $5 million round in 2021, to support its global sales and marketing expansion. Key investors include Amathaon Capital, Ocean Azul Partners, Smart-Agro, The Trendlines Group, AgVentures, and Hubei Forbon Technology.