In its Series A2 capital round, eAgronom, a climate-focused agriculture-focused technology company that teaches producers how to use green techniques for the health of their topsoil and the world, has raised €10 million. The square includes extra €5.8 million raised this time, as well as €4.2 million raised during a booster round next year, which has now been converted into collateral. Swedbank AB is leading the square with a €4 million purchase. In addition to the new head investment, the three shareholders who participated in eAgronom’s foldable square in 2023 – Icos Capital, Soulmates Ventures, and SmartCap Green Fund – have increased their assets to support the company’s expansion plans. Funds raised will help increase eAgronom’s reach in key areas and grow the business in several sustainable farming initiatives, particularly Scope 3 and lasting financing. In addition to its continuing funding efforts, eAgronom intends to raise an extra €2- 4 million after this year.
A critical sustainability measure that is essential to eAgronom’s mission is the promotion of agricultural practice change. About 31 % of the global greenhouse gas emissions are caused by foods production, with 70 % of those pollutants coming from farms. By 2050 we will need to make 60 % more food to feed a growing community of 9.3 billion. Farmers are therefore unavoidable in lessening efforts. Using renewable farming practices and carbon insetting, eAgronom aims to significantly lessen carbon footprints while providing farmers with true financial incentives and education.
Before funding rounds have enabled eAgronom to conduct field trials and training with spouse farmers in order to jointly identify best techniques for each area with a particular climate and soil type. The money round also places eAgronom in position to start selling carbon certificates through its Carbon Program, provide additional revenue streams for producers, and improve its exercise verification capabilities.
Robin Saluoks, inc- founder and CEO of eAgronom, said:” The common farmer has simply 40 yields to experiment with throughout their whole job. This makes the planting market really liberal. It makes sense to keep doing something if it is n’t actually working. eAgronom’s conservation programs – food price chain/scope 3, offsetting, sustainable financing, and others – help to reduce the chance for farmers by providing more incentives and training. We can expand these activities to many more farmers thanks to the continued funding round.
The effective coal sequestering abilities of land are a key component of eAgronom’s Carbon Program. As a normal carbon sink, the efficacy of land is next only to the world’s oceans. The Carbon Program adheres to the most rigorous growth principles and methods as defined by Verra, a greenhouse gas linking system. Additionally, Swedbank’s continued cooperation with eAgronom allows the bank to offer suitable financing terms to Baltic agrarian customers if they meet the requirements to be eligible for eAgronom’s lasting loan certificate, which is based on the EU Taxonomy proposal.
Jon Lidefelt, Head of Baltic Banking at Swedbank, said:” Enabling our consumers in their move with products and services is vital for Swedbank. Our agricultural users in Estonia, Latvia, and Lithuania now have a great general answer thanks to our relationship with eAgronom. With this investment, we further our commitment to enhancing the habitat of alliances for the benefit of our clients.
Founded in 2016, eAgronom then works with over 3, 000+ landowners in 14 countries. Working directly with eAgronom, lover farms across Europe and Africa have previously stored 525, 000 tCO2 p. a., which is approximately equivalent to the annual carbon emissions of 100, 000 people. The firm has a plan to complete its 4.1 million field goal by 2025.
