2023 was marked as the hottest year on record, and the trend of rising temperatures shows no signs of slowing down. This has had a significant impact on agriculture, making it increasingly difficult for farmers to grow crops in areas that were once fertile agricultural resources. The heat and drought have taken a toll on crop yields, posing a serious threat to food security.
In response to these challenges, agritech companies like Iyris have emerged as a lifeline for farmers, offering innovative solutions to help them navigate the effects of climate change. Recently, Iyris announced a successful $16 million Series A funding round, led by the San Francisco-based climate and sustainability fund Ecosystem Integrity Fund (EIF).
Iyris, with its headquarters in Riyadh, Abu Dhabi, and Delaware, focuses on providing adaptable and practical solutions for farmers facing the impacts of climate change. The company’s flagship technology, SecondSky, involves adding an additive to polyethylene manufacturing that blocks near-infrared radiation, reducing heat while allowing essential light for photosynthesis to pass through. This technology has proven to significantly increase crop yields while reducing energy and water consumption by up to 90%.
CEO Ryan Lefers, along with co-founders Mark Tester and Derya Baran, have successfully commercialized this technology, initially using it to grow and sell tomatoes in the Middle East. The company has since expanded its reach to regions like the UAE, Egypt, and Morocco, where desert agriculture is common.
As climate change continues to pose challenges for farmers globally, Iyris aims to expand its reach to countries like the U.S., Portugal, Spain, and Mexico. By providing practical solutions that enhance crop production in harsh conditions, Iyris is playing a crucial role in ensuring food security and sustainability in the face of climate change.