French agtech startup Agriconomie obtained €60 million in funding through a Series B round. The company’s investors included Temasek, Global Processing Services, Pontifax AgTech and Treïs Group. Additional investors included Aliment Capital, formerly known as Agtech Capital, and Eurazeo.
European Expansion Plans
Agriconomie’s ultimate goal is to become the European leader in online agro-distribution. Currently, the company operates in Belgium, France, Germany, Italy, Spain and Switzerland. It plans to expand to other countries such as Italy, Germany and Belgium.
Farmers faced greater expenses thanks to international supply chain mishaps and supply shortages. That led to them requesting significant pay cuts.
Agriconomie helps farmers better manage their daily lives and transitions them into new environmental systems. The company accomplishes this by leaning on its strategic vision and model. Its co-founder, Paolin Pascot, stated that the company’s formation with Dinh Nguyen and Clement Le Fournis was a calculated move to improve society. He explains that everyone involved with the company believes in its mission and growth potential. This is why Agriconomie was able to attract a large amount of investment funding.
One-Stop Shop For European Farmers
In 2014, Agriconomie was founded in Paris by Paolin Pascot, Dinh Nguyen and Clément Le Fournis. This one-stop shop provides European farmers with tools, seeds and animal feed as well as other agricultural supplies.
The agriconomie.com website features a comprehensive e-procurement site that specializes in agricultural supplies. It features personal support and sharing of information; software, data and advertising services provided by input suppliers.
Sustainable Farming Practices
The environmental action plan provides support to farmers who want to make their agriculture more sustainable. It also includes services like carbon measurement and organic product promotion. Plus, the action plan has a carbon trading department, an organic products consultancy and an advisory service for regenerative agricultural practices.
The environmental action plan promotes organic produce, alternative agriculture and environmental consulting, support for farmers switching to more sustainable practices, carbon measurement and trading services, and educational materials about regenerative agriculture.