Agriconomie, a French agtech e-commerce company that allows farmers to buy everything they need, announced on Tuesday, November 8, that it has raised €60M in a fresh round of funding. According to Agriconomie, this is the largest agtech platform funding in Europe in 2022.
The round was co-led by Treïs, Temasek, and Aliment Capital (formerly Pontifax AgTech), with the participation of Eurazeo.
Capital utilisation
Agriconomie says it will use the funds to expand its services in Germany, Italy, Spain, and Belgium, and to pursue its aim of becoming the European leader in online agro-distribution.
Paolin Pascot, CEO and co-founder of Agriconomie, says, “Since the creation of the company with my co-founders, Clément Le Fournis and Dinh Nguyen, we have put all our energy and determination into improving the daily lives of farmers. We help them to better manage their activity and accompany them in environmental transitions. This financing round confirms the strength of Agriconomie’s model, the relevance of our strategic vision, and our investors’ confidence in our growth potential as we open new opportunities to deploy our model rapidly and successfully throughout Europe.”
“The partner website for farmers”
Farmers always struggle to maintain profitability and sustainability in an environment that is both more competitive and complicated. This is where Agriconomie looks to make a difference. Founded by two sons and a grandson of farmers, Agriconomie is the first multi-service platform dedicated to farmers.
Agriconomie’s goal is to make it possible for farmers to shop for all of their farm needs in one location at great prices. By offering fertilisers, seeds, spare parts, workshop equipment, crop protection products, and animal nutrition, the company wants to offer farmers the possibility to buy more simply, quickly and at a better price.
Founded in 2014 by Clément Le Fournis, Dinh Nguyen and Paolin Pascot, Agriconomie, which was first recognised for its agricultural supply-focused e-procurement website, now provides a full suite of online capabilities, such as purchasing assistance, individualised guidance, and information source sharing. Data services, advertising, and software are all part of its supplier services division for its input providers.
The company claims to be tackling climate change and implementing worldwide decarbonisation measures by promoting the continuous shift to sustainable farming techniques. Through its environmental sustainability action plan, Agriconomie wants to dominate the European market for organic and regenerative inputs, which is the sector of agriculture with the fastest growth rate.
The environmental action plan calls for the promotion of organic goods, consulting and advisory services related to regenerative agriculture, carbon monitoring and trading services, and general assistance to farmers switching to more sustainable farming methods.
Agriconomie is also a member of the Ferme Digitale, the association of companies from the agricultural world aiming to create the farm of tomorrow.
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