Agriconomie, a one-stop shop for European farmers raises €60 million for its sustainable farming methods
- ByStartupStory | November 14, 2022
French agtech e-commerce startup Agriconomie has raised €60 million in Series B funding. Along with Eurazeo, the financing round was co-led by Tres Group, Temasek (who had supported Zilingo, Global Processing Services, and Aliment Capital), and Pontifax AgTech.
This investment enables Agriconomie to pursue its goal of dominating online agro-distribution in Europe. The company also wants to strengthen its presence in France, Germany, Italy, Spain, and Belgium, where it already has a presence.
The rise occurs at a time when geopolitical unrest and supply chain problems have driven up the cost of agricultural inputs and forced farmers all over the world to find cost-cutting measures.
“Since founding the business with Clément Le Fournis and Dinh Nguyen, my co-founders, we have devoted all of our efforts and devotion to enhancing the standard of living for farmers. “We support them in environmental transitions and assist them in better managing their activities,” said Paolin Pascot, co-founder and CEO of Agriconomie. As we open up new opportunities to quickly and successfully implement our model across Europe, this financing round “confirms the strength of Agriconomie’s model, the relevance of our strategic vision, and our investors’ confidence in our growth potential.”
Clément Le Fournis, Dinh Nguyen, and Paolin Pascot established Agriconomie in Paris in 2014 with the goal of providing European farmers with a one-stop shop for purchasing agricultural supplies like fertilizers, animal feed, pesticides, seeds and equipment.
Agriconomie, which is well-known for its e-procurement site that focuses on agricultural products, provides a full range of online capabilities, such as purchasing support, customised advice, and information source sharing. Data services, advertising, and software are all part of its supplier services division for its input providers.
Agriconomie is significantly tackling climate change and implementing worldwide decarbonization measures by promoting the ongoing transition to sustainable farming techniques. Agriconomie aims to dominate Europe in the market for organic and regenerative inputs, which is the sector of agriculture with the highest growth rate, through its environmental sustainability action plan.
The environmental action plan calls for promoting organic goods, consulting on and related advisory services for regenerative agriculture, carbon measurement and trading services, and general assistance for farmers switching to more sustainable farming methods.
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