Croatian agtech startup, Agrivi, announced it has raised a €1 million Series A from South Central Ventures’ (SCV) Enterprise Innovation Fund (ENIF).
Founded in 2013 in Kutina, Croatia by entrepreneur, Matija Zulj, Agrivi was launched after Zulj became frustrated by the challenges faced when operating his own blueberry farm. Agrivi produces affordable knowledge-based farm management software modules that can substitute outdated systems and inefficient consultants. The modules will help farmers to optimize production, reduce risk through pest detection and prevention, and increase profit through higher yields and enhanced quality.
Today, Agrivi claims 15,000 users across 150 countries. SCV’s investment will be used by the company to support the continuation of its global expansion.
“…market demand for our technology is very strong,” notes Zulj in a company statement. “Partnering with SCV helps us to multiply our operational capacity, keep the customer success rate at the highest level and further speed up market expansion to bring our technology to as many farmers as possible. In the next period, we will focus on strong market penetration of key agricultural EU countries and positioning as global leader in niche industry verticals serving customers worldwide.”
With offices in Zagreb, Croatia, Belgrade, Serbia, and Skopje, Macedonia, SCV’s Enterprise Innovation Fund is a €40 million fund targeting investments in startups, and small and medium-sized tech companies in the Western Balkans. Investors in the fund include international financial institutions, regional corporations, private investors, and regional governments.
“I can say we’re excited to have Agrivi in our portfolio,” said Jure Mikuž, Managing Partner, SCV. “The founder Matija and his team have big plans on their great mission to solve some of the World’s biggest challenges by helping the farming industry become technology advanced and more efficient. We’re here to help them achieve this and it will be beneficial for a very large portion of global population if we succeed.”
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Lynda Kiernan