Agrando completes seed funding round in the millions - Key technology for European agri-trade
The Munich-based AgTech company Agrando is in the process of establishing itself as the market leader for digital agri-trade in Europe and has received a seven-figure investment. The investor consortium is led by the European VC fund June, the London family office JLR Star, and the AgTech investor Baltic Venture. They were convinced by the unique business model, the strong founding personalities, and the concentrated agricultural IT knowledge. Agrando has the potential to scale internationally and become the key technology for competitive agriculture in Europe. With this investment, Agrando continues to focus on growth while IT and R&D are being expanded.
Florian Schindler, Co-Founder, June Fund: "We look for founders that bring fundamental change to the industries they are addressing. The huge business of European agri-trade certainly is ripe for such changes. By enabling all players involved in agri-trade, we have the strong conviction that Agrando, is in a unique position to address this exciting market. We are very impressed by Jonathan's industry expertise as well as vision and are excited to support the Agrando team in making this a reality."
Agrando founder and CEO Jonathan Bernwieser is a business IT specialist and son of a farmer: "Our goal is a future-proof agriculture. We give farms of all sizes access to a fair and transparent market and support them to make good business decisions. The high response shows us that our offer is just right.”
The market opportunity is huge: Germany has around 266,600 farms. Across Europe, there are 10.5 million farms.
Agrando's business model picks up all players in existing structures and allows them to benefit profitably from the full potential of digitalisation. The independent agricultural trade platform links farmers, traders, and manufacturers and supports them with technically optimised trade processes, data-based analyses, and industry-specific advice. Agrando includes Germany's largest retailer network, the largest digital catalogue of agricultural inputs, and will soon become the largest online network for farmers.
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Agrando closes Series-A financing round with €12 million investment7.7.2021 09:45:00 EEST | Press release
Munich-based AgTech start-up Agrando successfully completed its Series A with an investment of 12 million Euros. They raise the highest amount ever in a Series A in agribusiness across Europe. yabeo Impact AG, an impact fund of early-stage investor yabeo from Munich, leads this round. They are accompanied by Sony Innovation Fund and Investbridge. Existing investors such as the technology VC June Fund and the London family office JLR Star are investing again. The capital enables Agrando, which is on its way to becoming the European market leader, to invest in internationalisation and R&D.