May 27, 2015
Estonia-based VitalFields has raised $1.2 million in a Series A round of fundraising from various investors including SmartCap, the investment arm of the Estonian Development Fund, and an unnamed Silicon Valley-based venture capitalist.
Founded in 2011, and an alumnus of the Startup Wise Guys accelerator, VitalFields currently operates in Poland, Ukraine, Germany, and Estonia offering cloud-based software and mobile apps to facilitate the modeling of plants diseases and growth, track climactic patterns, and other agricultural management activities. The company plans to use the raised capital to fund its European expansion and advances its product development.
“The efficiency of farmers depends on very different factors from weather to financials to planning and operational management. We believe we have found the ingredients to success since VitalFields is one of few farm management solutions which has scaled cross border,” Martin Rand, CEO and co-founder of VitalFields tells Tech Crunch.
This investment in VitalFields comes at a time when agtech funding has been building momentum. Global AgInvesting recently brought you the news that Farmers Business Network raised $15 million in a financing round led by Google Ventures, while last year FarmLogs raised $10 million in Series B funding, and Farmers Edge raised over $10 million from Kleiner Perkins, and just this week secured an investment from Mitsui & Co.
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