Stenon, a Brandenburg, Germany-based agtech company that has commercialized the first real-time soil sensing solution, raised a $20 million Series A financing round.
The round was led by Founders Fund and David Friedberg’s The Production Board. Existing investors including Cherry Ventures and Atlantic Labs participated in the financing.
The new funding will push the company into new markets and launch a new range of tools and data services. This will enable Stenon to create new features, recommendations, and products that ultimately fuel the usages of Stenon’s systems and services vice versa.
Company: Stenon GmbH
Raised: $20.0M
Round: Series A
Funding Month: December 2021
Lead Investors: Founders Fund and David Friedberg’s The Production Board
Additional Investors: Cherry Ventures and Atlantic Labs
Company Website: https://stenon.io/
Software Category: real-time soil analysis solution
About the Company: Founded in 2018, Stenon offers the world's first real-time soil analysis solution for agriculture. Stenon has become the global market leader in real-time, digital soil data that is laboratory-independent. This provides farmers with essential data to make optimal and sustainable cultivation decisions, boosting yield, crop quality, and soil health while saving money on inputs. Stenson's technology is the only in-field soil sensing solution that has achieved first and only external data accuracy certification by the leading European farmers association in collaboration with a panel of leading institutes like the Julius Kühn Institute in Germany.
Source: https://www.osborneclarke.com/news/osborne-clarke-advises-stenon-usd-20-million-series-financing