Source.ag, an Amsterdam, Netherlands-based artificial intelligence (AI) provider for greenhouse growers, closed $23 million in its Series A funding round, bringing the company’s total funding to $35 million.
The round was led by Astanor Ventures and includes investments from Acre Venture Partners and several of the Netherlands’ leading greenhouse operators.
The funds will use to introduce two new groundbreaking AI products that will drive safe, reliable, and climate-resilient food production by supporting greenhouse growers with advice on the optimal way to grow their crops.
The investment will also help Source.ag expand its AI to support even more crop types and farming methods.
Kamman, CEO, and co-founder of Source.ag, says “Our technology provides growers with real-time, highly tailored advice on how to optimally grow their crops, and we support them in running a successful growing operation. We are proud to have Astanor Ventures, Acre Ventures Partners, and leading Dutch growers’ continued support in our mission to empower the world’s growers. With this funding, we'll introduce further groundbreaking products so even more growers can scale healthy food production and feed more people in a sustainable way.’’
The company’s cutting-edge AI platform empowers more growers to operate more acres in more locations more efficiently, thereby accelerating the global adoption of greenhouse agriculture.
Source.ag focuses on the largest global fresh vegetable segments such as tomatoes and peppers, with the ambition to ultimately help all fruit and vegetable growers.
Following the release of its first product, Source Track, in 2022, Source.ag will be launching two new products in 2023, Source Cultivate and Source Control.
The company has increased tenfold the number of users of its products in just 12 months, partnering with the world's leading growers to help increase vegetable yields in the face of the growing energy and climate crises.
Company: Source.ag B.V
Raised: $23.0M
Round: Series A
Funding Month: February 2023
Lead Investors: Astanor Ventures
Additional Investors: Acre Venture Partners
Company Website: https://source.ag/
Software Category: Greenhouse System
About the Company: Founded in 2020 by Rien Kamman and Ernst van Bruggen, Source.ag is an agtech startup accelerating access to fresh fruit and vegetables by empowering the world’s growers with AI. Source.ag has brought together a team of experienced engineers and plant scientists and has partnered with the world’s leading growers to build the sector’s most advanced artificial intelligence. Their proprietary algorithms simulate plant behavior to define and execute optimal cultivation strategies, taking into account millions of data points on climate, biology, and resources. By enabling more growers to operate more facilities more efficiently through pioneering tech, Source is making greenhouse agriculture accessible, profitable, and globally scalable. Source.ag is on a mission to provide nutritious food to more people, using fewer resources.
Source: https://source.ag/news/source-ag-raises-23-million-series-a