The complexity of the farming operation itself isn’t in doubt, and Source’s pitch is to take all of these growth parameters, combine that with historical crop yield data and market pricing etc., to create a better experience for the growers. You need decades of experience to be doing well at it.” It’s really a craft and this is why it’s still so hard. This might include what to feed the plant, plant-specific parameters, pruning, etc. You need to get the decision right every day. Growers are making decisions on 60-70 parameters every day, which influences how this crop will grow for the rest of the season. “Because you have more control, you’ll have to make more decisions every day. That means that these operations are arable land independent,” explains Rien Kamman, co-founder ad CEO at Source. Tomatoes, for example, don’t grow in soil. On the higher-tech side, want to have control over every dimension you can imagine, including humidity, irrigation and nutrition. “Greenhouses come in all shapes and forms - both more and less technically advanced. The funding will be used to accelerate product development and expand commercial collaborations. We believe Source.ag can play a vital role in driving its global scalability.”
“Greenhouse agriculture is a proven and viable solution, but without innovation, demand will be impossible to meet. As this accelerates in the coming years, we must find ways to scale efficient growing solutions that lighten the footprint of agriculture,” said Lucas Mann, managing partner at Acre. “Climate change is driving substantial scarcity and strains in our global food supply. What Source adds to the mix is the ability to use data and AI to help greenhouses operate at even higher levels of efficiency and repeatability of high-yield harvests. The company argues that greenhouse agriculture is a safer, more reliable and more climate-resilient mode of food production, producing up to 15 times higher yields, using a twentieth as much water as traditional agriculture.
AG SOURCE COMPANY SOFTWARE
The company is developing software to empower greenhouses to get smarter. The company also raised from industry insiders, including the international association of (mostly) salad growers Harvest House, tomato specialists Agrocare and bell pepper specialists Rainbow Growers. The $10 million funding round was led by Acre Venture Partners, with participation from the E14 fund and food-focused venture firm Astanor ventures.
I have no such restraint, so let’s report on this, ahem, growth industry. You wouldn’t believe the amount of restraint it takes to not make a pun about seed funding in a piece about greenhouses. The founders have set their eyes on a horizon where, driven by climate change and a rapid increase in global food demand as population continues to increase, more crops are being forced indoors to secure greater crop yields. Agtech startup Source.ag today announced it harvested a $10 million investment to make greenhouses smarter.
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