Esular, 2020 EWA Alumni startup, successfully completed this investment round and reached 122.3% funding.
Esular offers wireless and battery-powered fully automatic IoT smart irrigation systems to increase efficiency and save water and energy in agricultural production areas
Esular, which provides effective and smart water management services and digitizes guest production, went on an investment tour with a target of 3,850,000 TL. The venture successfully completed this investment round and reached 122.3% funding. It has received an investment of 4,707,543 TL in its documents. The startup, which successfully concluded many B2B sales negotiation processes that it started in 2021, earned TL 1.5 million in direct sales revenue from these sales. With the awards received and the support of TEYDEB 1507, it reached a volume exceeding 2 million TL in 2022. In 2023, it has secured similar figures with both ongoing projects and pre-sales from B2B. In addition, it reached the farmers in regions such as Osmaniye, Şanlıurfa, Mersin, Konya, İzmir, Bursa and ensured the sale of the product.
Prepared for the coming years with new investments, marketing activities and developing technological solutions, Esular will focus on the first orders from new corporate customers, especially in the first half of 2023. The initiative aims to reach a more functional and wider market by re-planning the production process of the product that has proven itself in the field with solid model (box) designs. Esular, which will launch its products with improved industrial design in the second quarter of 2023, will open to foreign markets in the fourth quarter of 2023. In this context, the initiative plans to operate in the leading European producer countries such as Romania, Bulgaria, France, Spain and Italy, as well as in regions under water stress such as Uzbekistan and Azerbaijan, which need the technologies it has developed.
How did EIT Food Community support this success?
Esular, has been among 2020 EWA Turkish cohort. Esular, which has developed a different product in 2020, has improved its team and initiative with the trainings received during EWA Programme timeline.
It has participated in EIT Food´s different programmes during 3 years. thus developing its network and receiving investment from crowdfunding.