Source.ag, an artificial intelligence (AI) provider for greenhouse growers, has closed USD$23 million in its Series A funding round, bringing the company’s total funding to $35 million in just under two years.
Source.ag launched its first commercial products in the summer of 2022 and will use the new funds to introduce two new AI products that will drive safe, reliable and climate-resilient food production by supporting greenhouse growers with advice on the optimal way to grow their crops.
The Dutch company has increased by 10-fold the number of users of its products in just 12 months, partnering with the world's leading growers to help increase vegetable yields.
After the successful commercial launch and implementation of its first product, Source Track, Source.ag will be launching two new products in 2023. Source Cultivate and Source Control will enable growers to simulate full seasons of crop growth, tailored to specific gene and crop varieties, in order to grow their crops in the best way possible. The new funding will also help Source.ag expand its AI to support even more crop types and farming methods.
The Series A funding round is led by Astanor Ventures and includes investments from Acre Venture Partners, and several of the Netherlands’ leading greenhouse operators. Upholding the trillion-dollar potential of the fresh produce industry, the new investment will see Source.ag enable growers to operate at optimized efficiency using its pioneering AI technology to track and improve cultivations.
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