MUNICH/GERMANY, 09 July 2021: Agrando, a Munich-based AgTech start-up has completed its Series A with an investment of USD 14.2 million, the highest Series A amount ever raised by a European agribusiness.
yabeo Impact AG, an impact fund of early-stage investor yabeo from Munich, led the round, whereas Sony Innovation Fund and Investbridge also participated. Existing investors such as the technology VC June Fund and the London family office JLR Star invested again. Agrando will use the funding to invest in internationalisation and R&D.
Founded in 2017, Agrando is an independent platform that connects all players in agri-trade. It supports farmers, retailers, and producers using optimised trading processes, data-based analyses, and trade-specific advice.
Farms get access to extensive market knowledge and the largest online shop for agricultural inputs in German-speaking countries. Retailers and producers can use Agrando as an additional sales channel or enter the online trade. The company already expanded to Austria (2020) and France (2021).
Jonathan Bernwieser CEO & founder of Agrando said "For a sustainable value chain we need strong agricultural businesses in Europe." As a farmer's son and business information scientist, he knows both the agricultural needs and the opportunities through process optimisation: "Only if farms have access to the market information relevant to them at all times can they make good decisions and position their farms for the future."
Saskia Becker, Board Member of yabeo Impact AG said "We want to actively shape the transformation of agriculture. Agrando has exactly the right solutions for the future of agriculture. The company plans to digitise European agricultural trade and make small-structured farms, in particular, more efficient."
“We, at Sony Innovation Fund, believe in the benefits of digitalising the farm. Agrando enables farmers to analyse and understand what they need in order to make the best decisions and connects them with trusted suppliers, forming a network which will allow them to more swiftly adjust to the changing environment”, Gen Tsuchikawa, Chief Investment Manager for Sony Innovation Fund stated.
Image credit: greenqueen.com.hk