Today Amsterdam-basedConnecterra, an AI-driven agritech startup improving the dairy industry, has secured €7.8 million in a Series B funding round. The round adds new investors ADM Capital, Kersia and Pymwymic, alongside existing investors Breed Reply and Sistema_VC.
Connecterra, founded in 2014, aims to train AI to know how to farm. Its objectives are to empower animal farmers of all sizes to increase productivity, while reducing the substantial impact that animal agriculture has on our planet. The company operates a predictive intelligence platform that uses machine learning to provide farmers and industry stakeholders with insights that directly impact farm and value chain efficiency. Headquartered in Amsterdam, The Netherlands, the startup already operates in 16 countries.
This raise is one of the largest funding rounds specifically for Dutch agricultural tech startup active in farm animal technology. It is also one of the largest ever series B investment rounds secured by a European livestock tech company. With the funds the startup Connecterra will accelerate the growth of its predictive AI platform, ‘Ida’. So far ‘Ida’ has evolved from sensor tech to a full-stack technology and AI platform, combining proprietary sensor hardware, animal data, third-party enterprise data, and machine-learning algorithms.
There has been a rapid digital transformation in the global agricultural sector over the last few months because of COVID-19. Farmers and other key industry players are more acutely aware of the need for sustainable and efficient farming practices. “Empowering farmers and the industry with a connected, AI driven platform is a necessity for the future of food production. The COVID-19 outbreak has brought into sharp focus the weaknesses in our food system that is disconnected and faces threats from climate change and a dwindling labor workforce. With the support of our top-class investors, customers and partners, we are well positioned to democratize access to our technology to millions of farmers across the globe”, says Yasir Khokhar, CEO of Connecterra.
Rogier Pieterse, Managing Director, Pymwymic, said: “Connecterra can significantly contribute to the transition of this traditional industry by reducing its negative footprint, supporting smallholder farmers in developing countries and accelerating regenerative practices. We look forward to supporting them in embedding this impact.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
