By Gerelyn Terzo, Global AgInvesting Media
Singapore-based agri-tech company Agros has attracted $4.25 million to its coffers in a Series A round. The company plans to direct the proceeds toward an expansion push in Indonesia and product innovation, including the scaling up of solar-powered irrigation solutions, where it supports smallholder farmers throughout Southeast Asia. The round was co-led by existing backers Gaia Impact, Schneider Electric Energy Access Asia and Wavemaker. New investor Global Innovation Fund (GIF) also joined the lineup alongside Silverstrand Capital and an angel investor. Agros said it plans to tap the debt capital markets next in H1 2025.
GIF’s part of the investment into Agros was $500,000. The latest fundraising comes on the heels of a $2.7 million round that Agros raised in the past couple of years, reflecting confidence in its ability to support the ag industry in Southeast Asia. The company is also reportedly exploring the possibility of an extended Series A round contingent on reaching certain milestones.
Smallholder farmers in Southeast Asia face unique challenges, not least an extreme climate that swings from monsoon to drought seasons, conditions exacerbated by a scarcity of water owing to the effects of climate change. By introducing more reliable irrigation solutions, growers can stay productive, but high costs have prevented them from doing so. Agros seeks to shift this equation with its more affordable solution called Agrosolar. This technology is a solar-powered irrigation pump that slashes fuel costs compared with traditional diesel pumps, thereby making irrigation cheaper for smallholder farmers.
Since inception, Agros has helped over 6,000 smallholder farmers and impacted the lives of over 30,000 members of the region’s growing community. GIF said its risk-capital investment will help the company to scale and crowd in an additional funding of at least $1 million. The capital injection will help Agros to ingrate over 500 new solar pumps across Cambodia, Myanmar and Indonesia. Additionally, Agros is looking to partner with tens of thousands more farmers to bolster the combined income by $40 million while stopping 1 million tons of carbon emissions from entering the atmosphere.
GIF Investment Director Francesco Valente said, “GIF finds and funds innovations that help the world’s poorest people adapt to extreme weather and build resilience to climate shocks. Agros offers innovative products and services and makes them accessible to poor smallholder farmers, maximizing productivity while minimizing environmental impact. Our risk capital investment will support Agros on its pathway to scale, helping the business crowd in additional funding.”
Agros Founder and CEO Max Nelen commented, “This Series A funding marks a major milestone for Agros as we scale our impact across Southeast Asia. With the continued trust of our existing investors and the support of new partners like the Global Innovation Fund, we are accelerating our mission to empower smallholder farmers with sustainable, tech-driven solutions.”
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