Hexafarms has raised €4.8 million in a funding round led by Ananda Impact Ventures and Green Generation Fund, with participation from Grey Silo Ventures, better ventures, and existing backers Speedinvest, Mudcake, and Techstars, as Vestbee was informed.
- Founded in 2021 by David Ahmed, Felix Kirschstein, and Huijo Kim, hexafarms develops wireless sensors, cameras, and autonomous robots that collect crop data and feed it into software for crop monitoring, yield forecasting, and pest and disease detection.
- The company’s sensors monitor climate, fertigation, substrate, drainage, and light, while its robots scan plants daily to identify early signs of pests and diseases.
- The technology is currently used by more than 50 growers across 13 countries, including SanLucar, Elo, and Royal ZON. According to the company, customers have managed more than €300 million worth of produce using its operating system and hardware this year.
Details of the deal
- The fresh capital will enable the firm to advance its wireless crop sensing and automated pest and disease scouting technology and accelerate commercial expansion across DACH, Benelux, and Spain.
“We invest where we can bring more than capital, combining our industrial expertise with the right partnerships to help businesses scale. Hexafarms already has strong technology and is well positioned to connect into the wider agrifood value chain. That combination of technical strength and commercial potential is exactly what we look for in an investment," claims Matteo Leonardi, Investment Manager at Grey Silo Ventures.
- Alongside the funding round, hexafarms has received Rentenbank’s Startup Grant and a subordinated loan of up to €800,000 under a German government-backed program supporting early-stage agricultural technology companies.
