Based in the Netherlands, the rapid developments of agtech startup Source.ag have just been boosted even further with a $23 million Series A funding round. Less than a year ago, the enterprise was granted a $10 million round. Source.ag provides commercial greenhouse crop farmers with cutting-edge AI models to help regulate their growing conditions, make the best use of their resources, and enhance their harvests. It would be beneficial to use less water in order to grow food, especially given that the global population is predicted to reach 10 billion by 2050. Keep in mind that agricultural irrigation accounts for 70% of water usage across the world. Food production is both energy and water-intensive, so reducing water consumption would be advantageous.
The company is making an investment in greenhouses as a lasting, regional, and climate-resilient way of yielding food that can actively deliver a specialized setting for every corresponding plant. Source.ag’s engineering has the purpose of giving farmers more useful information regarding their plants and greenhouses so they can accomplish more sustainable crops.
Source.ag was given seed funding which was used largely for research and to create Source Track, a software platform that helps farming establishments. It has collaborated with hundreds of customers and thousands of acres of high-tech greenhouses, making it primed for growth. The Series A funding, led by Astanor Ventures, with capital from Acre Venture Partners and many of the Netherlands’ premier greenhouse providers, will permit the development of two fresh products: Source Cultivate and Source Control.
Rien Kamman, the co-founder and CEO of Source.ag, stated that they will roll out multiple new offerings over the upcoming two years, including Source Cultivate. According to him, this product will provide farmers with the ability to utilize AI in determining the optimum methods of cultivation and predict the influence of external forces on their crops. Additionally, the crystal ball, as he calls it, will forecast the resource usage, expenses and returns of the crops. We are in favor of producers discovering the growth strategy that suits them best.
Kamman mentioned a French customer who took advantage of Source Cultivate to try out a number of pruning and climate approaches for their tomato crops, and immediately received feedback from the AI about the effects of each strategy on the plants’ health, yield and profit levels throughout the season. This enabled the cultivator to identify the ideal strategy for their location, resources, and the type of facility and seed breed used.
Source.ag has honed in on the world’s major fresh vegetable industries like tomatoes and bell peppers, however they want to help all farmers everywhere get the best yield they can.
Kamman states that Source.ag intends to provide growers and farmers with the capability to successfully culture their harvests. It can offer up-to-date counseling regarding the best practices to produce crops, no matter the type or approach used. He is amazed by the fact that three billion people lack access to quality fresh produce.
To the founder of the company, Source.ag centers on the equalization of agricultural knowledge through the use of AI, letting knowledgeable cultivation of fresh vegetables and fruits in the most reliable and environmentally friendly way.
Kamman believes that Source.ag is uniquely fit to act as a connector between Artificial Intelligence and the authentic environment of agriculturalists as well as farming. His team has comprehensive knowledge in creating AI and managed to pull in exceptional personnel who work together with leading cultivators globally.
Kamman and van Bruggen had a lot of experience creating AI systems for big companies, but, being raised in the Netherlands (which has a large agricultural sector) made them want to put their expertise to use to assist farmers in providing food to everyone. Deciding that was the way to go, the two of them stopped their jobs and established Source.ag at the beginning of 2020, uniting technology and agriculture.
For Kamman, Source.ag isn’t just a supplier of software; instead, it has become a reliable collaborator in the development of a sprawling venture in which the farmers are the stars. Although agricultural and technological activities may seem unlikely companions, Kamman underlines the harmony between farmers and programmers who exercise their talent and come together through their similar pursuits.
Kamman observed that those in the same craft are able to quickly bond and show appreciation to each other, no matter what area they may specialize in. This appreciation is rooted in the passion for their profession and an inquisitive interest in one another’s skills. Kamman also noted that Source’s software developers take advantage of these opportunities to work with growers in the greenhouse and gain firsthand knowledge to create effective tools for ensuring success.