17 November, 2020 - AGRIVI, a global agtech company with the market leading farm management platform has secured 4 million EUR series A Round led by South Central Ventures, European Investment Fund and Croatian Bank for Reconstruction and Development. Fil Rouge Capital and AgriTech Hub also participated in the round. The funding will enable AGRIVI to expand its market reach in key European markets and United States.
AGRIVI farm management software is one of the most comprehensive farm management platforms on the market. The platform supports farms and agri-food companies in reaching economically and environmentally sustainable crop production.
The financing round builds on an exceptional period for AGRIVI, where the company saw a rapidly growing roster of clients, key executive appointments, market recognition and market momentum as food and agriculture were put under the spotlight. Major market researches position AGRIVI among key global leaders in the farm management industry and its customer portfolio grew to include brands such as Nestle, Driscoll’s, Kimberly-Clark and BNP Paribas among many others. A global consulting company EY recommends AGRIVI’s solutions as the fast-impact project for governments to improve local food sustainability and reduce climate impact on a national level.
“AGRIVI has made an impressive progress since our initial investment back in 2016. They have positioned themselves on a global map of the leading agtech companies as one of the leading farm management platforms. I’m also thrilled that European Investment Fund identified this opportunity and participated in our first direct co-investment. I believe the funds from this financial round will enable AGRIVI to accelerate their activities on multiple business areas and consequently facilitate the global impact on the healthy food production,” stated Jure Mikuz, lead investor in the round and Managing Partner at South Central Ventures.
“Strong progress in the last period and extraordinary customers we support have prepared us for the next stage of our growth. We are thankful to South Central Ventures, European Investment Fund, Croatian Bank for Reconstruction and Development, Fil Rouge Capital and AgriTech Hub for supporting us in our mission to digitalize the global agriculture. The recent global happenings have put additional spotlight on the food and agriculture, so the interest of investors for AGRIVI is strong and we are considering to extend the round with additional round closing,” stated Matija Zulj, CEO and founder at AGRIVI.
-- All Investor Statements --
European Investment Fund (EIF) Statement
Alain Godard, EIF Chief Executive said: “I’m delighted to see that the EIF`s strategic equity investments in Croatia, working alongside HBOR, are delivering results and empowering Croatian companies to grow and compete on the global markets, creating jobs and fuelling faster economic development. It’s important, during these difficult times, that we continue to support ambitious, innovative businesses across Europe. We are impressed with AGRIVI and its achievements and proud to be a part of their success as much as we are proud of the results of our partnership with HBOR and its impact on Croatia.”
Croatian Bank for Reconstruction and Development (HBOR) Statement
“We are proud that HBOR had the opportunity to support Croatian company which has became an agtech leader in only seven years. The investment in AGRIVI was made together with EIF through CROGIP program that encourages the availability of venture capital for Croatian entrepreneurs. We are glad Fil Rouge Capital fund also participated in this investment, who has been supported from HBOR while they were starting with their operations. The success of AGRIVI is an excellent example how strong growth and exports to the world markets can be achieved in niches and sectors that until just a few years ago almost did not exist. The potential of the Croatian economy is in innovative companies with global ambitions, where AGRIVI is an excellent example," said Tamara Perko, President of the Management Board at HBOR.
Fil Rouge Capital (FRC) Statement
“AGRIVI has been strengthening its position on the market in the past few years. Their experience is meeting the market maturity, thus making the strong use case and product-market-fit which is the most important prerequisite for the scale-up phase. We are very happy to be part of this investment round creating a firm cornerstone of AGRIVI's future. We believe in their success and their role in reaching an economically and environmentally sustainable crop production world,” Stevica Kuharski, Principal at Fil Rouge Capital.
AgriTech Hub Statement
“The AGRIVI Farm Management Platform is a response to a global trend, namely digitalisation in agriculture. AGRIVI enables the analysis of precise data, which is particularly important for the industry. Another crucial element for consumers is traceability, which is the possibility of checking the origin of a product. In AgriTech Hub, we are looking for solutions which will make agricultural processes really effective. We consider AGRIVI to be not only practical, but also an innovative solution that will help to manage production. We are also looking forward to working with the funds that believed in AGRIVI together with us and invested in the platform. We believe in the dynamic development of the company in the near future with a great chance for global success,” Marcin Woźniak, CEO at AgriTech Hub.
-- General Information--
AGRIVI is a global agtech company founded in 2013. With offices in London, Bucharest, Zagreb and Warsaw, the company supports agri-food companies in 100+ countries. More information can be found at www.agrivi.com.
South Central Ventures (SCV) is the leading venture capital management company in western Balkans, dedicated primarily to early stage and growth investments in tech startups to fuel their international business expansion and growth. More information can be found at www.sc-ventures.com.
European Investment Fund (EIF) is the largest European investor in venture and growth capital funds. Since 1994, the EIF has committed more than €17 billion in close to 700 venture and growth capital funds. By co-investing with successful venture capital fund managers alongside their funds, EIF targets innovative SMEs and Mid-Caps in their expansion and internationalisation phase. EIF’s investment in AGRIVI was made in partnership with Croatian Bank for Reconstruction and Development (HBOR) through CROGIP program. More information can be found at www.eif.org and at www.hbor.hr.
Fil Rouge Capital (FRC) is the € 45 million investment fund focused on early stage businesses from pre-seed, seed and Series A of investment. More information can be found at www.filrougecapital.com.
AgriTech Hub is a Venture Capital Fund with investment interests in modern solutions within the scope of high-tech for the agriculture and food sector and entire value-added chain in agriculture and agricultural practice. Its mission is to support innovation, applicable at the growing, production and distribution stages, all the way to the commercial end customer. More information can be found at www.agritechhub.com.
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