hexafarms, a Berlin, Germany-based agtech company leveraging AI to optimize greenhouses, raised €1.3M in Pre-Seed funding.
The round was led by Speedinvest with participation from Mudcake and techstars.
The company intends to use the funds to further develop its AI and machine learning capabilities as well as expand its team of research and development experts.
Led by David Ahmed, Founder and CEO, hexafarms is an agtech startup that develops software for indoor commercial food production. Its SaaS harvests data and leverages AI to monitor, control, and optimize greenhouses and vertical indoor farms in real time. Over the last six months, the company has tracked over 40 hectares of commercial greenhouses with its software. Its AI models are able to forecast crop yield four to eight weeks in advance with accuracy as high as 95%. Their vision is to empower farms across the globe to run as efficiently as possible.
Commenting on the funds, David Ahmed said: “Although the global agriculture industry plays a fundamental role on a vast scale, it’s dishearteningly under-optimized. Our mission is to revolutionize this landscape. With our constantly evolving AI models, we aim to unlock potential savings of nearly 30% in variable costs and losses. By harnessing the power of algorithms, we can cater to the individual needs of each plant at any scale, surpassing the capabilities of human intervention.”
FinSMEs
14/05/2024