November 8, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

In January of this year, GAI News shared that London-based controlled environment agriculture (CEA) technology and research startup Vertical Future raised what was acknowledged as the largest round to be closed in the European CEA industry.  More recently, in September of this year, we shared that German cannabis company Sanity Group raised the largest investment round in that EU sector to-date. 

Today, we report that Agriconomie, a leading EU agricultural e-commerce platform, has closed on a EUR60 million Series B, representing the largest fundraise by an agtech platform in the EU so far this year.

Co-led by Treïs, Temasek, and Aliment Capital (formerly Pontifax AgTech), this round also included participation from Eurazeo.

Founded in 2014 and initially known for its specialized agricultural supply e-procurement site, Agriconomie is the first multi-service online platform dedicated to farmers that has grown to offer a complete range of tools including purchase support, personalized advice, and information source sharing. Within this business model, its Supplier Services business includes data services, advertising, and software for input suppliers.

Co-founders Clément Le Fournis, Dinh Nguyen, and Paolin Pascot stated that through its platform, Agriconomie is championing the transition to sustainable farming practices, and making a significant contribution to addressing climate change and global decarbonization initiatives.

“Since the creation of the company with my co-founders, Clément Le Fournis and Dinh Nguyen, we have put all our energy and determination into improving the daily lives of farmers,” said Paolin Pascot, co-founder and CEO, Agriconomie. “We help them to better manage their activity and accompany them in environmental transitions. This financing round confirms the strength of Agriconomie’s model, the relevance of our strategic vision, and our investors’ confidence in our growth potential as we open new opportunities to deploy our model rapidly and successfully throughout Europe.”

Through its environmental sustainability action plan, which includes the promotion of organic products, regenerative ag consultancy, carbon measurement and trading services, and general support for farmers transitioning to more sustainable practices, Agriconomie’s strategic goal is to become the European leader in the organics and regenerative inputs market – the highest-growth segment in agriculture.

With a current presence in France, Germany, Italy, Spain, and Belgium, Agriconomie stated that the capital from this round will bring the company closer to its strategic goal of becoming the pan-European leader in online agro-distribution.

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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