Market Overview

SWIIM System Announces the Closing of its Initial Series B-1 Round; Strategic Partnership with Western Growers Also Extended


Ag Tech and farm water management leader SWIIM
is proud to announce today that it has closed the first of
two tranches of its Series B-1 extension offering to fund continued
expansion of its water management platform. Proceeds will also be used
to fund the recent acquisition of Fresno-based IoT technology company OnFarm

The first tranche of $3 million was led by the company's current
insiders and strategic partners. In addition, Western
has extended its strategic development agreement with SWIIM
for an additional ten year period and will work with the company to
expand the use of the OnFarm dashboard platform to better provide
SWIIM's core water balance data, as well as other to-be-determined data
sources, for the benefit of Western Growers members.

"We continue to grow our relationship with Western Growers which began
nearly four years ago through a handful of regional test pilots and now
we continue to grow steadily throughout California and beyond," said
Kevin France, Chief Executive Officer of SWIIM. "I am humbled as to the
trust that has been placed with us and we look forward to expanding
service to growers in need of accurate water accounting services with
exciting new offerings as a result of the SWIIM/OnFarm combination."

"Our members throughout the West face mounting water supply reliability
challenges along with increased regulatory scrutiny of their beneficial
use of water," said Dave Puglia, Executive Vice President of Western
Growers. "Several years ago, we put SWIIM through the paces to determine
how its unique water accounting platform could help our members protect
their water rights and maximize their flexible use of water. Our
confidence in those results produced a strategic partnership agreement
two years ago, and this extension of our partnership with SWIIM further
underscores our confidence in the benefits to our members of having
highly accurate and comprehensive water use data."

"With these recent events we are better positioned than ever to continue
servicing growers, whether they are struggling with surface water
supplies such as Colorado River allocations, or tackling challenging
groundwater challenges with the latest SGMA (groundwater) compliance
requirements throughout California," said Ed Warner, Chairman of SWIIM.

SWIIM recently acquired Fresno-based OnFarm Systems - an online internet
distribution and syndication platform. The transaction closed on July
16, 2018 at which time Lance Donny, the CEO of OnFarm, became SWIIM's
Chief Operating Officer. France remains CEO of the combined SWIIM/OnFarm

"We are excited about the opportunity to work with Western Growers and
their members to improve their water use," said Lance Donny, COO of
SWIIM and project lead on the OnFarm integration. "Farmers often state
they want their data and systems to simplify their decision making and
help them more easily achieve their operationally efficiency and
management goals. The combined offering of OnFarm's data integration
technology and SWIIM's water accounting is a compelling solution for
Western Growers members and a solution they can trust in the long run."

SWIIM was listed as a Top
25 Most Innovative Ag Tech Company
by Forbes for two consecutive
years, both in 2018 and 2017. Its multi-patented technology was
developed over a 5-year period with the help of the USDA and several
western land-grant universities. It is currently being deployed
throughout the western US to help growers account and manage their
agricultural water budgets and protect their water rights.

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