Hectare, an England, UK-based agritech company that provides inventory, trading, market insights, and logistics solutions, raised $20 million in Series A funding to accelerate the growth of its digital solutions that connect the critical parts of the food supply chain.
The round was led by existing and private investors. The investment will be used to support Hectare’s Software-as-a-Service (SaaS) inventory, trading, logistics and market insights product development, and expansion into new international markets.
Jamie McInnes, CEO at Hectare, says: “Our aim is to solve the invisible problems in the food supply chain by creating connected digital solutions that enable everyone to make small, practical changes – from sourcing grain more locally to digitising paper-based processes like invoicing – to help hit big goals.”
Hectare has now facilitated over $1 billion in commodities trading through its technologies, which generate unique and extensive insights – from animal health to market price benchmarking – so agribusinesses can make better-informed decisions while increasing their sustainability, productivity, and profitability.
More than 130,000 farm businesses now use Hectare’s solutions, making it one of the largest global networks of agricultural businesses. By directly connecting everyone in the supply chain through its digital solutions, Hectare is solving the invisible inefficiencies in the farm-to-factory gate supply chain.
Company: Hectare Agritech Ltd
Raised: $20.0M
Round: Series A
Funding Month: March 2023
Lead Investors: Undisclosed
Additional Investors:
Company Website: https://www.wearehectare.com/
Software Category: Farming Solutions
About the Company: Hectare is a leading agri-tech business that creates technology dedicated to agricultural industry success. Hectare builds affordable solutions, rooted in agricultural expertise, that connect all the critical parts of the food supply chain so crops, livestock, and customers are looked after through sustainable agriculture. In 2022, Hectare’s technology-enabled farm businesses to optimize the trading of livestock, improving animal welfare and reducing the carbon footprint of the beef and sheep supply chain by 2.5m livestock miles. Hectare has seen significant growth and adoption since its launch in 2015.
Source: https://businesscloud.co.uk/news/16-5m-funding-to-grow-farming-tech-worldwide/