eAgronom raises €10 million in A2 funding round to promote sustainable agricultural practices

eAgronomthe Estonian climate technology company specializing in agriculture, which helps farmers to introduce sustainable Practices Methods Exercises has secured 10 million euros in its Series A2 equity round.

eAgronom was founded in 2016 and works with more than 3,000 farmers in 14 countries.

Soil health is at the heart of eAgronom’s work and is the foundation of its carbon offset and integration programs.which subsidizes Farms that work to restore and regenerate soil, the second largest natural carbon sink on Earth.

Working directly with independent farmers and large agricultural companies to implement crop monitoring from the fields, automated reporting, harvest and yield plans and schedules for agricultural activitiesand more, eAgronom has modernized hundreds of thousands of hectares in Europe and Africa.

TThese partner farms have stored 525,000 tCO2 per year, which is corresponds to the annual CO2 emissions of 100,000 people. The company is on the way to Achieve the target of 4.1 million hectares by 2025.

Robin Saluoks, co-founder and CEO of eAgronomsaid:

“The average farmer only has 40 crops to experiment with. entire Career. The makes the agricultural sector extremely conservative.

If something more or less Work then it makes sense to continue with it. eAgronom’s sustainability programmes – Food Value Chain/Scope 3, Offsetting, Sustainable Finance and others – help to reduce the risk for farmers through additional incentives and education. The current funding round will help us expand these initiatives to many more farmers.”

The round includes EUR 4.2 million raised in a booster round last year and now converted into equity, as well as a further EUR 5.8 million raised this year.

Swedbank AB leads the round with an investment of EUR 4 million together with Icos Capital, Soulmates Ventures and SmartCap Green Fund.

Jon Lidefelt, Head of Baltic Banking at Swedbank, said:

“Easing the transition for our customers with products and services is of central importance to Swedbank.

The partnership with eAgronom contributes to a fantastic total solution for our agricultural customers in Estonia, Latvia and Lithuania. With this investment we strengthen our commitment In eAgronom to strengthen the ecosystem of partnerships for the benefit of our customers.”

The funds raised will expand eAgronom’s presence in key markets and scale the company in various sustainable agriculture programs. particularly Scope 3 and sustainable finance. As part of its ongoing fundraising efforts eAgronom plans to raise a further 2 to 4 million euros later this year.

Cover photo: eAgronom. Photo: no credit given.