Venture Capital: Dutch AI Agtech Source.ag Raises $23M Series A
Source.ag aims to empower the world’s fruit and vegetables growers with next level AI for greenhouse agriculture.
Dutch company Source.ag has raised $23 million in a Series A funding round led by Astanor Ventures, with further investment from Acre Ventures Partners and several of the Netherlands’ leading greenhouse operators. Source.ag develops artificial intelligence (AI) tools to provide growers with guidance on optimal crop cultivation techniques.
The company has increased the number of users of its products by tenfold in just 12 months, partnering with the world’s leading growers to increase vegetable yields while reducing land and water usage. (Source.ag)
The new funding will be used to introduce two new AI products to aid safe and reliable food production by supporting growers. The firm’s existing Source Track product has already been launched, and the company intends to extend its AI to cover more crop types and farming methods.
The new Source Cultivate and Source Control products are set to be launched in 2023. They will enable growers to simulate full seasons of crop growth, tailored to specific gene and crop varieties, to ensure optimal yields.
The company’s vision is to democratize access to fruit and vegetables by empowering growers worldwide with AI, thereby accelerating the global adoption of greenhouse agriculture.
“To feed our planet’s growing population in a durable, resource efficient and healthy manner, we need to do more and put the power of AI into the hands of growers worldwide,” said Rien Kamman, CEO and co-founder of Source.ag, in a statement. “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.”
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