French agritech startup Karnott has raised its first round of €1.1 million for its new tool, which collects data directly from agricultural machines and stores it in a centralized platform. The investment comes from Leap Ventures and several business angels.
The Lille startup, founded in 2016, hopes to use the funds to recruit a dozen new employees.
"This financing will allow us to accelerate the commercial development of Karnott in France, to begin expanding internationally, and expand our team," said Alexandre Cuvelier and Antoine Dequidt, the founders of Karnott, as reported by Maddyness. "We have contacts in England, Germany, Switzerland and Australia. Our ambition is to become a leader in our industry."
The tool is a case that can be put on all agricultural machinery, old and new, to collect usage data that is then centralized on a web platform. "The purpose of Karnott is to make the lives of farmers easier, tracing all operations on a platform in one click," said the co-founders. This will save time for farmers, they said, who use an average of 15 to 20 machines, sometimes by sharing with other farmers.
Read more: Maddyness (French)