Funding

[Funding alert] Malaga-based Agrow Analytics Secures €650k in Seed Funding

Jan 31, 2024 | By Startup Rise EU

Malaga-based Agrow Analytics secures €650k in seed funding. GoHub Ventures, Demium Capital, and First Drop led this investment, which will allow the business to combine its precision technologies aimed at maximizing water consumption and minimizing water impact in agriculture.

Malaga-based Agrow Analytics secures €650k in seed funding. GoHub Ventures, Demium Capital, and First Drop led this investment, which will allow the business to combine its precision technologies aimed at maximizing water consumption and minimizing water impact in agriculture.

Agrow Analytics has created a system that aggregates and analyzes all irrigation-related data to automatically generate precise suggestions for the best times, locations, and amounts to irrigate ahead of time.

Read also - Limburg-based Foodtech Company Verdify Raises €2.4Million in Funding

The round, which will support the company's global expansion, reinforces the company's commitment to sustainable agriculture in a field that is booming as a result of global ESG rules and climate change requirements.

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With notable accomplishments like the EIT Food Water Scarcity award and the first water footprint compensation contract in Europe—which will enable big businesses to compensate their footprint through Agrow Analytics—the startup led by Antonella Maggioni has grown at an exponential rate.

Read also -  Netherlands-based Tidal Control Secures €500K in a Pre-Seed Round Funding

The business has also received recognition as one of the most technologically advanced, as evidenced by the awarding of a NEOTEC grant at the end of 2023.

Co-founder and CEO, Antonella Maggioni said, "Agrow Analytics has been consolidating its position as a leader in the Climate Tech sector and as a pioneer in the generation of water credits and compensation, guiding companies towards a Water Positive footprint and the restoration of river basins. The round marks a milestone in our international expansion and the continuous innovation in precision agriculture”.

The round comes at a crucial time, since the number of businesses required by EU Directive to submit sustainability reports has increased fivefold. These reports must include information on water usage in the company's operations, production processes, and supply chains, as well as details on efforts to control and reduce water consumption.

Read also - Amsterdam-based Send AI Raises €2.2Million in a Pre-Seed Round Funding

Inés Calabuig, Managing Partner of GoHub Ventures, commented: “This means the reaffirmation of the trust in the team that passed through the former GoHub Ventures acceleration program a year ago and that has become a strategic and innovative partner in terms of water footprint and sustainability”.

Jorge Dobón, founder of Demium Capital said, “We are excited to continue supporting Agrow Analytics in its mission to lead the sustainable transformation of the agricultural sector and in the creation of a company that will be a benchmark in Europe and Latin America in this sector,”.

About Agrow Analytics

Agrow Analytics software offers advice for where, when, and how much to water in advance, making precision irrigation easier. With their approach, you can grow a crop that is more robust, productive, and uses the least amount of water possible in a way that is easy to comprehend, simple, and autonomous for all users.

Read also -  Swedish Acorai Secures €4.1 Million in Funding

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