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INDUSTRY FIRST

Source.Ag Raises $23 Million Series A To Empower The World's Fruit

Feb 23, 2023over 2 years ago

Amount Raised

$23 Million

Round Type

series a

AmsterdamAgriculture and FarmingFarmingArtificial Intelligence

Description

Source.ag, the leading artificial intelligence (AI) provider for greenhouse growers, has closed $23 million in its Series A funding round, bringing the company’s total funding to $35 million in just under two years.

Company Information

Company

Source.ag

Location

Amsterdam, New York, United States

About

Source.ag is democratising access to sufficient fruit and vegetables through A.I. powered indoor farms. Climate change is driving substantial scarcity and strains in our global food supply. As this accelerates in the coming years, we must find ways to scale efficient growing solutions that lighten the footprint of agriculture. Greenhouse agriculture is a proven solution to reliable and climate-resilient food production: it produces up to 15 times higher yields and uses up to 20 times less water, while reducing pollution and use of land. While the global demand for greenhouse agriculture is rising, its growth is hindered by the high dependency on, and the growing shortage of, growers to operate these facilities. By capturing decades of growing experience and knowledge into algorithms, Source.ag enables more greenhouse growers to operate more farms more efficiently. By combining plant models with machine learning techniques, we can simulate crop development in any environment. Our technology provides growers with advice on the optimal cultivation strategy and support to realise it. This is an important first step in our mission to deliver more healthy food to more people without breaking our planetary boundaries.

FundzWatch™ Score

79
Medium Activity

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