Singapore-headquartered agritech startup Agros has raised US$2.7 million in pre-Series A funding.
Gaia Impact Fund and Schneider Electric Energy Access Asia led the round.
Seed round investor Wavemaker Impact, Silverstrand Capital, Circle Capital, and PropertyGuru Founder and impact investor Steve Melhuish also participated.
Agros will use the fresh funds to scale in its existing markets, open a third country, strengthen its leadership team and develop an app streamlining the value chain. This will allow it to transform the lives of thousands of farmers while abating millions of tons of carbon emission.
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Founded in 2019, Agros provides sustainable farming solutions for 18 million horticulture farmers across Asia. The company is helping horticulture farmers to decarbonise while doubling their profit through a full-stack solution.
The company’s first two products, Agrosolar and Agrosoil, solve major agricultural problems like fuel dependency and soil degradation. After switching to Agros’s ecosystem, farmers can double their profits from reduced input costs, improved yields, and higher prices from better-quality crops.
The startup enjoys a tailwind from rising fuel and fertiliser prices, encouraging farmers to switch to more sustainable and efficient practices. This resulted in 4x year-on-year revenue growth in 2022.
The company currently works with 1,500 farmers across two Asian countries and has increased farmers’ profits by more than US$1.5 million and decreased up to 5,000 tons of CO2 emission.
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