Estonian agritech start-up eAgronom is encouraging farmers to chose more sustainable farming practices by incentivising them with a carbon credit programme. It assesses the farms carbon footprint by green house gas monitoring. It is currently supporting farmers in seven markets including Spain, Poland, Romania and East Africa.
The start-up has raised $5.5 million in funding to scale its digital tools offering. Investment came from Icos Capital, Soulmates Ventures and SmartCap Green Fund (funded by the resources of the European Union’s recovery plan – NextGenerationEU.). The firm also received a grant from Enterprise Estonia.
"With this additional funding, we can continue our efforts to facilitate the transformation of farming practices, enabling them to manage their farms in a more sustainable manner, while simultaneously providing them with supplementary revenue streams and a chance to improve their soil conditions for the future. These steps are crucial in the global fight against climate change where we need to act rather sooner than later.” says Robin Saluoks, CEO of eAgronom.
"The global crises of recent years and the growing climate problems have shown us more and more acutely that it is necessary to develop sustainable ideas and technologies bolder and faster than before," says Sille Pettai, Fund Manager and Member of the Board of SmartCap. “Investors, consumers, and society in general are already interested in technologies and solutions that help solve pressing global problems. Our aim is to transfer the continuation of the success story of Estonian technology companies also in the field of greentech, to see ambitious Estonian companies such as eAgronom achieving international success in creating greener, sustainable economies."
Main image: eAgronom team