Rockstart, global accelerator-VC, announces that it has completed its first exit from the Rockstart AgriFood fund only 20 months after the initial investment. With the exit, Nector Holdings, a global fresh produce player, is investing €2 million in Agranimo to accelerate growth and strengthen Agranimo's technology platform. Rockstart’s investment in Agranimo was one of the fund's first batch of investments in agtech and foodtech startups in 2019, further emphasizing its experience in scouting and investing in the best purpose-driven founders. Agranimo will use the funds to create a more targeted offering for different customer segments, from smallholder farmers to large corporate growers and the consumer packaged goods (CPG) industry.
This investment allows Agranimo to further develop its data analytics to better use on-farm data downstream in the supply chain, and to expand the suite of tools to address the needs of corporate clients looking for streamlined plant-relevant soil and climate data analysis. The company will also invest in increasing its geographical presence, and expanding the number of data integrations, such as integration with SAP to provide climate intelligence for risk evaluation, certifications and benchmarking.
Founded in 2016 in Santiago, Chile, Agranimo is offering micro-climate intelligence for the fresh produce supply chain, helping to improve profitability and reduce food waste. The company supports fresh produce growers, food producers in areas of irrigation management, frost forecasting, integrated pest management, and yield forecasting. Their services consist of connecting different sources of soil and climate information, including installing patented soil and environment sensors, and providing data standardisation, software analytics and visualisation dashboards as well as agronomic support. Agranimo Platform automates climate analysis - it combines sensors, weather forecast, satellite and drone images to determine the impact of micro-climate on plant growth.
The AgriFood fund is Rockstart’s first fund launched in 2019. In May 2021, Rockstart announced the closing of the fund at €22m with the participation of Vaekstfonden’s Green Future Fund, alongside informal investors and global dairy cooperative Arla Foods. Rockstart AgriFood has invested in 20 startups since its launch in mid-2019, making the fund one of the most active AgriFood investors in the world. The Rockstart AgriFood portfolio companies have collectively raised €10m in total thus far. Rockstart AgriFood received more than 600 applications in the last three months and is planning to make new investments this summer.
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