Primo Capital | Meet the Portfolio - Irreo - Satellite irrigation system

06 set 2023 Meet the Portfolio, Irreo

Meet the Portfolio is a Primo Ventures format to discover the game-changing companies we support.

In the interview below, Irreo tell us about its unique entrepreneurial journey.

How was Irreo born?

We founded Irreo as two Computer Science and Geoinformation’s PhD students, at the University of Rome 'Tor Vergata'. From the very beginning, we shared a passion for computer programming, data analysis and entrepreneurship. A passion that was complemented by our involvement in research and projects related to satellite and computer applications within the agricultural sector. The expertise gained in these domains served as a foundation for the establishment of Irreo—an agritech startup with a focus on precision irrigation.

Where do you see Irreo in 10 years?

Our objective has always been to provide an innovative product or service that holds practical value in everyday life or at work. The aspiration was to develop something that could simultaneously yield social, environmental, and economic benefits.

Even though, as individual aspiring entrepreneurs, we had worked hard to acquire skills to start and manage our own company, we soon realized that the path to success required collaboration. Our initial meeting revealed a shared vision and complementary skill sets, leading us to embark on this journey together.

In a decade, we envision Irreo positioned as a prominent precision irrigation leader in Europe.

What was the biggest challenge?

Looking back, the most significant challenge was translating our idea into a tangible reality while aligning with market needs. Irreo introduces an intricate and innovative product, and its development, coupled with a tight timeline, was tortuous and incredibly demanding for only two people.

Nonetheless, we actually believe that the biggest challenge still lies ahead: we need, in fact, to undertake a transformative shift in mindset, so as to grow and evolve into a mature company, with a close-knit and competent team, capable of tackling the challenges ahead.

What are the trends in your sector?

The agricultural sector is undergoing a transformative shift toward digitalization; a crucial transition to effectively address contemporary challenges such as those raised by climate change. Climate conditions are changing and with them the ways in which crops must be managed: let’s not forget that agriculture is one of the sectors with the greatest social and environmental impact on humankind, both in positive and negative terms. Hence, there's an urgent need to monitor and mitigate adverse aspects of the industry, including water consumption, which accounts for 60% of total water usage in Europe.

Who is the ideal investor?

At this stage, we seek investors with an in-depth understanding of the industry we are in, so as to leverage their expertise, that combined with ours, can exponentially improve the output of our efforts. Our ideal investor is interested in understanding how we want to revolutionize our sector, while deeply believing in us and our ideas.

What makes Irreo unique?

We believe Irreo is unique in its ability to anticipate market trends.

In 2020 we started testing an advanced satellite monitoring system, which did not involve the use of probes or sensors, with the aim of suggesting to the farmer how much water to spray on the crops and when to do it. We used a technology that hardly anyone was betting on, three years ago, to provide the farmer with quantitative and not just qualitative data.

In 2021, we created the first prototype of an Irreo control unit capable of automatically managing our customer's irrigation plant, based on data processed by analysing satellite maps. This solution allowed irrigation processes to be optimised and managed remotely, with only the farmer's supervision. This integration of software and hardware marked a significant achievement enabling earth observation technology with automatic control units within a unified system.

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