AgTech Startup FieldSense Nets €2.9M To Provide Farmers With Actionable Insights
AgTech startup FieldSense raised funding of €2.9M to give farmers better weather insights.
Globally, the Agtech market is expected to reach a value of USD 32.50 billion by 2027. In fact, in the last two years, the AgTech market has exponentially expanded mainly because of the emerging startups and rise in investment from investors. For instance, last year an AgriTech startup Glife fetched funding of $11M.
Also, as per the Crunchbase data, the venture capitalists invested $4 billion in startups in the Agtech space last year. It seems like this trend of investment in Agtech is going to continue. As recently, Denmark-based AgTech startup FieldSense has just raised funding of €2.9 million.
The startup has raised this hefty amount of funding in a round led by Danish Agro with Rockstart as co-investor alongside Pajbjergfonden.
Founded in 2015 by Ohn Smedegaard and Martin Pedersen, the startup has launched its weather services in 2018. And provides hyper-local weather information and forecasts to aid the farmers in monitoring and acting upon the changes in local and microclimatic conditions.
The startup creates user-friendly tools for framers based upon the data gathered from in-field and solar-powered weather stations which helps them in making various important decisions. The FieldSense weather station is designed for agro-purposes, accompanied by an intuitive app. Every day, the startup collects more than 2 million weather measurements from 16.000 sensors that framers can utilize in their daily planning.
The focal point of Field Sense is to ensure that their solutions can help the farmers in strengthening their business. Furthermore, it believes that farmers today are surrounded by data from a variety of sources. And utilization of this data in the proper way can create a positive impact on farmer’s everyday life and their fields.
The startup is currently offering its products in Denmark, Norway, Sweden, Germany, Finland, Lithuania, Estonia, and Latvia. But with this fresh injection of funding the startup wants to expand its markets.
CEO John Smedegaard whilst expressing his gratitude for the funding from the investors said:
“We’re excited to take the next steps on our journey to bring better weather information to farmers. With the joint support from our current investors and Rockstart, we’ll be intensifying our efforts to obtain a stronger market presence in existing and new markets in Europe.”