Dutch startup reaps €21.6M to help growers with AI

Added on 27 February 2023

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Dutch startup reaps €21.6M to help growers with AI

Amsterdam-based Source.ag is an agtech startup that assists greenhouse farmers with AI. On Wednesday, February 22, the company announced that it has raised $23M (approximately €21.6M) in a Series A round of funding.

The round, led by Astanor Ventures, also includes investments from Acre Ventures Partners and several leading greenhouse operators in the Netherlands.

The announcement comes approximately one year after the company raised €9M in a seed round led by US-based Acre Venture Partners. It brings the total funding raised by the company to $35M (approximately €32.9 million) in less than two years.

Source.ag will use the funds to help growers operate efficiently using its AI technology to track and improve cultivation. Following the launch of its first product, Source Track, in 2022, the Dutch company intends to launch two new products — Source Cultivate and Source Control, in 2023.

The company says it will enable growers to simulate full seasons of crop growth, tailored to specific gene and crop varieties, 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.

Founded in 2020 by Rien Kamman and Ernst van Bruggen, Source.ag believes greenhouse agriculture is an answer to safer, reliable, and climate-resilient food production.