Amsterdam-based Agurotech, a startup that offers farming solutions, announced on Tuesday that it has raised €1.5M in a Series A round of funding.
Agurotech, which specialises in data-driven arable farming, says it will use the funds to take the next step in making the global food system more sustainable.
Investors in this round
The investment came from Dutch-based VC Navus Ventures, and ROM InWest, a firm that helps entrepreneurs strengthen the regional and circular economy in North Holland.
Navus Ventures is part of a family office linked to Lely (Farming Innovators). It is aimed at high-tech startups and scale-ups driving the ongoing sustainable transitions in food and energy. The firm invests both in typical VC setups as well as for longer holding periods.
ROM InWest aims for a sustainable and robust economy in North Holland. It offers opportunities for everyone, with a focus on social, ecological and economic impact.
The firm helps founders to realise ideas that have the potential to advance digitalisation, circular economy, and energy and food transitions.
Optimising the irrigation process
Founded in 2020 by Joelle van den Brand and Lilia Planjyan, Agurotech aims to help farmers with information and ideas to aid in the more effective use of resources like water.
It creates, manufactures, and distributes custom hardware and software products like sensing technology, weather systems, and software.
The software provides farmers with real-time insights into soil conditions, local weather, and AI-powered predictions.
Through its products, the company assists farms in streamlining the initial process by using resources more effectively and sustainably.
The company is primarily active in the Netherlands, but is making plans to expand to other countries.
Capital utilisation
Joelle van den Brand says, “We have demonstrated that we can increase crop yield by using resources more effectively. This also has a positive impact on sustainability. Not only in the Netherlands or Europe, but all over the world.”
“Thanks to this investment, we can further scale and expand our company. We expect to grow over the next 5 years and achieve international market leadership in key segments.”
The company will also scale up its production and its technology in the largest sensor-driven agricultural initiative ever done. “LIFE – The Future of Farming”, sponsored by the EU, will use Agurotech’s technology as it scales up production.
In this initiative, the six EU nations most impacted by the impacts of climate change will collaborate with agricultural groups, 300 farms, colleges, scientists, and municipal governments.
Lilia Planjyan adds, “The goal is to make the agricultural sector more sustainable and prepare for the effects of climate change through precision farming technology.”
This will also allow Agurotech to enter several international markets.
Prior to founding Agurotech, Lilia and Joelle worked as strategy advisors, providing advice to businesses across the globe on topics like food and agriculture.
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