Singapore, 14 March 2023 – Agros, a Singapore-headquartered agritech startup, has raised US$2.7 million in a pre-Series A funding round led by Gaia Impact Fund and Schneider Electric Energy Access Asia. Seed round investor Wavemaker Impact continued to support Agros and invested again. The round also saw participation from Silverstrand Capital, Circle Capital, and PropertyGuru Founder and impact investor, Steve Melhuish.
Founded in November 2019, Agros is the pioneer in sustainable agriculture for small and medium-sized horticulture farmers across Asia. The company is helping horticulture farmers to decarbonise, whilst doubling their profit through a full-stack solution.
Its first two products – Agrosolar and Agrosoil – are solving major agriculture problems like fuel dependency and soil degradation. After switching to Agros’ ecosystem, farmers can double their profits from reduced input costs, improved yields, and higher prices from better-quality crops.
Agros has been enjoying the tailwind from rising fuel and fertilizer prices, which has encouraged farmers to switch to more sustainable and efficient practices. This has resulted in 4x year-on-year revenue growth in 2022. The company currently works with 1,500 farmers across 2 Asian countries and has increased farmers’ profits by more than $1,500,000 and abated up to 5,000 tons of Co2e.
“We’re glad to have found investors who share our belief that a prosperous, inclusive, and low-carbon world is possible. The timing couldn’t have been more perfect and as the pioneer, we are well positioned to become the regional market leader,” said Max Nelen, Founder and CEO of Agros.
Agros will use the funds to scale in its existing markets, open a third country, strengthen its leadership team and develop an App streamlining the value chain. This will allow Agros to transform the lives of thousands of farmers, while abating millions of tons of carbon emissions.
For more information, please contact:
Max Nelen, Founder & CEO
max.nelen@agrosglobal.com
About Agros
Agros is the pioneer in sustainable farming solutions for 18 million horticulture farmers across Asia. Its full-stack solution allows farmers to double their profit and become climate-resilient for generations to come.