BayWa Venture GmbH, a subsidiary of BayWa AG, and Austrian company RWA Invest GmbH, have each acquired an 11.3 percent interest in the Irish start-up FarmHedge Ltd.
FarmHedge is an online platform for trade between the farmer and the agricultural retail sector. Local retailers can use this digital sales channel to sell equipment and purchase agricultural products, especially in the subsequent registration.
FarmHedge is the fourth Group company to come out of BayWa and RWA Raiffeisen Ware Austria’s joint platform for innovation, the Agro Innovation Lab’s Acceleration Program. The Irish company took part in the program in 2017 as one of six start-ups.
“The investment in FarmHedge fits with our omni-channel strategy”, Klaus Josef Lutz, CEO of BayWa AG, stated on baywa.com. “Together with our competence centres in the regions and our outstanding warehouse and logistics service, this allows us to be faster in supplying our customers than a classic online retailer.”
