Raises $23M Series A fund to support the fruit and vegetables growers globally
Amsterdam (Netherlands) based Source.ag, the leading artificial intelligence (AI) provider for greenhouse growers, has closed $23 million in its Series A funding round, bringing the company’s total funding to $35 million in just under two years.
The Series A funding round is led by Astanor Ventures and includes investments from Acre Venture Partners, and several of the Netherlands’ leading greenhouse operators. Source.ag will use its pioneering AI technology to track and improve cultivations to enable growers to operate at optimized efficiency.
After the successful commercial launch and implementation of its first product, Source Track, the company is launching two new products in 2023. The new funds will be used to launch two AI enabled greenhouse technology products. The new-generation tools will drive safe, reliable and climate-resilient food production by assisting greenhouse growers to maximize yields.
The two new tools, “Source Cultivate” and “Source Control” will enable growers to simulate full seasons of crop growth, tailored to specific genes and crop varieties. In addition, the new funding will enable Source.ag to expand its AI capabilities even further.
Greenhouse agriculture is a proven solution to sustainable, local, and climate-resilient food production. With the global demand for greenhouse agriculture rising, Source.ag is empowering growers worldwide to accelerate their growth and operate facilities more efficiently.
Source.ag claims that the novel method of Greenhouse agriculture can produce up to 15 times higher yields without the need for arable land and uses up to 20 times less water versus traditional farming methods.
