Amsterdam-based Source.ag is an agtech startup that assists greenhouse farmers with AI. On Wednesday, February 22, the company announced that it has raised $23M (approximately €21.6M) in a Series A round of funding.
The round, led by Astanor Ventures, also includes investments from Acre Ventures Partners and several leading greenhouse operators in the Netherlands.
The announcement comes approximately one year after the company raised €9M in a seed round led by US-based Acre Venture Partners. It brings the total funding raised by the company to $35M (approximately €32.9 million) in less than two years.
Source.ag will use the funds to help growers operate efficiently using its AI technology to track and improve cultivation. Following the launch of its first product, Source Track, in 2022, the Dutch company intends to launch two new products — Source Cultivate and Source Control, in 2023.