Agrow Analytics, a Malaga-based ClimateTech Startup, raises €650K for precision irrigation in sustainable agriculture.
The round was led by GoHub Ventures, Demium Capital, and First Drop. This funding empowers the startup to strengthen its precision technology, focusing on optimizing water use and reducing the water footprint in agriculture.
The round, which will support the company’s global expansion, reinforces the company’s commitment to sustainable agriculture in a field that is booming as a result of global ESG rules and climate change requirements.
Agrow Analytics has created a system that aggregates and analyzes all irrigation-related data to automatically generate precise suggestions for the best times, locations, and amounts to rinse ahead of time. The effectiveness and real-time tracking of producers’ water footprint have increased as a result of these recommendations, enabling third-party companies to offset their water footprint with savings from the use of AI, satellite imagery, and Internet of Things devices.
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The startup founded in 2021 by Antonella Maggioni has grown at an exponential rate, accomplishing notable milestones like the EIT Food Water Scarcity award and the first water footprint compensation contract in Europe that will enable big businesses to use Agrow Analytics to compensate for their footprint. The business has also received recognition as one of the most technologically advanced, as evidenced by the awarding of a NEOTEC grant at the end of 2023.
The round comes at a crucial time since the number of businesses required by the EU Directive to submit sustainability reports has increased fivefold. Furthermore, These reports must include information on water usage in the company’s operations, production processes, supply chains, and details on efforts to control and reduce water consumption.
Given that agriculture uses 70% of the freshwater available today and that the world’s water demand is predicted to rise by 30% by 2030, companies must find comprehensive solutions to meet their Water Security and Replenishment goals while also enabling producers to make the shift to a more technologically advanced and efficient form of farming.
Comments
Antonella Maggioni, Agrow Analytics Co-founder and CEO stated:
“In addition to being a pioneer in the creation of water credits and compensation, Agrow Analytics has been strengthening its position as a leader in the Climate Tech industry by assisting businesses in achieving a water-positive footprint and restoring river basins. Moreover, the round marks a milestone in our international expansion and the continuous innovation in precision agriculture.”
Inés Calabuig, Managing Partner of GoHub Ventures said:
“This means the reaffirmation of the trust in the team that passed through the previous GoHub Ventures acceleration program a year ago and that has become a strategic and innovative partner in terms of water footprint and sustainability.”
Jorge Dobón, the founder of Demium Capital, said:
“We are thrilled to continue supporting Agrow Analytics in its mission to lead the sustainable transformation of the agricultural sector and in creating a company that will be a benchmark in Europe and Latin America in this sector.”
