202009 Oct

eAgronom raises €1.2 million for its farm management software, brings a former Nike VP on board

Summary

Tallinn, Estonia-based agritech company eAgronom has raised a €1.2 million convertible equity funding round to bolster its AI-based farm management platform, as the startup prepares to raise a further €10 million in Series A funding in the spring of next year. The cash injection comes from local VC firm SuperAngel VC, IronWolf Capital (Vilnius), Cats.VC (Moscow), but also notable angel investors including Bolt (formerly Taxify) founder Martin Villig and Taavi Tamkivi, the founder of Salv. The fresh capital will be used to roll out its AI-powered digital consultancy services across more countries with the help of Luha. Basically, eAgronom wants to help farmers automate crop rotation plans to improve yield and become more sustainable, integrate satellite NDVI data, analyse their financial performance, and so on. Its software product is currently used by some 1,500 farmers responsible for 1 million hectares of grain-land in Europe, the startup said.

Source: Tech

Funding

$1.42M
Amount
Oct 09 2020
Date
-
Investor
eAgronom
Company

Classifications

Companies