Agriconomie, a French agtech e-commerce startup, raised €60 million in Series B funding. The financing round was co-led by Treïs Group, Temasek (which backed Zilingo, and Global Processing Services), and Aliment Capital (formerly Pontifax AgTech), alongside participation from Eurazeo.
European expansion plans
This investment lets Agriconomie pursue its ambition to become the European leader in online agro-distribution. Also, the company is already present in France, Germany, Italy, Spain, and Belgium and wants to cement its presence in these markets.
The raise comes at a time when supply chain issues and geopolitical events have sent farm input prices soaring and farmers around the world scrambling to cut costs.
“Since the creation of the company with my co-founders, Clément Le Fournis and Dinh Nguyen, we have put all our energy and determination into improving the daily lives of farmers. We help them to better manage their activity and accompany them in environmental transitions,” said Paolin Pascot, CEO and Co-founder of Agriconomie. “This financing round confirms the strength of Agriconomie’s model, the relevance of our strategic vision, and our investors’ confidence in our growth potential as we open new opportunities to deploy our model rapidly and successfully throughout Europe.”
One-stop shop for European farmers
Founded in 2014 by Clément Le Fournis, Dinh Nguyen, and Paolin Pascot in Paris, Agriconomie is designed to be a one-stop shop for European farmers who need to order agricultural supplies such as fertilizers, animal feed, seeds, and equipment.
Known for its e-procurement site specialising in agricultural supplies, Agriconomie offers a complete range of online tools, including purchasing support, personalised advice, and information source sharing. Its Supplier Services business includes data services, advertising, and software for its input suppliers.
Sustainable farming practices
By championing the ongoing transition to sustainable farming practices, Agriconomie is making a significant contribution to addressing climate change and employing global decarbonisation initiatives. Through its environmental sustainability action plan, Agriconomie intends to be the European leader in the organics and regenerative inputs market, the highest growth segment in agriculture.
The environmental action plan includes the promotion of organic products, regenerative agriculture consultancy, and associated advisory services, carbon measurement and trading services, and general support to farmers transitioning to more sustainable agricultural practices.