Connecterra secures large Series B funding round

Company raises 7.8 million euros for artificial intelligence-driven ag tech to accelerate dairy industry digitization.

June 23, 2020

3 Min Read
Connecterra secures large Series B funding round

Connecterra, an artificial intelligence (AI) provider for the dairy sector, has secured 7.8 million euros in a Series B funding round, which adds new agricultural technology (ag tech) and industry insiders as investors in the company.

The new investors are ADM Capital; Kersia, a leading international food safety enterprise headquartered in France, and Pymwymic, a Netherlands-based impact investor, Connecterra said. Existing investors Breed Reply and Sistema_VC are among others that also joined the round. The company was represented by Humphreys Law through the process.

According to the announcement, the 7.8 million euros raised is the largest-ever Series B funding round completed by a Dutch ag tech company active in farm animal technology as well as the largest-ever Series B investment secured by a European livestock technology company.

With this funding raised, Connecterra said it has support from major ag tech and industry investors to accelerate the growth of Ida, its predictive AI platform, which has evolved from sensor tech to a full-stack technology and AI platform, combining proprietary sensor hardware, animal data, third-party enterprise data and machine-learning algorithms.

Connecterra said there has been a rapid digital transformation in the global agriculture sector over the last few months because of COVID-19. Farmers and other key industry players are more acutely aware of the need for sustainable and efficient farming practices.

“Empowering farmers and the industry with a connected, AI-driven platform is a necessity for the future of food production. The COVID-19 outbreak has brought into sharp focus the weaknesses in our food system that is disconnected and faces threats from climate change and a dwindling labor workforce. With the support of our top-class investors, customers and partners, we are well positioned to democratize access to our technology to millions of farmers across the globe,” Connecterra chief executive officer Yasir Khokhar said.

ADM Capital senior investment director Alastair Cooper said, "We are most excited to invest into Connecterra. The company is at the forefront of innovation within the dairy industry, powering innovation through its sensors and cutting-edge artificial intelligence. Connecterra’s Ida platform empowers farmers via predictive intelligence to drive productivity and increase sustainability. ... Their system harnessing innovative technologies is a natural fit for the Cibus Enterprise Fund, which focuses on investment opportunities in the agri-food tech sector. We are excited to help Connecterra continue to evolve and expand into new markets.”

Pymwymic managing director Rogier Pieterse added, “Connecterra can significantly contribute to the transition of this traditional industry by reducing its negative footprint, supporting smallholder farmers in developing countries and accelerating regenerative practices. We look forward to supporting them in embedding this impact.”

Connecterra said the latest funding will equip it with the funding needed to grow its presence in dairy-leading regions such as Europe, North America and New Zealand and further scale up and develop the AI models and technology behind Ida.

Connecterra’s mission is to empower farmers of all sizes to increase the productivity of their farms while reducing the impact of farming on the planet. The company operates a predictive intelligence platform that uses machine learning to provide farmers and industry stakeholders with insights that directly affect farm and value chain efficiency. Connecterra is headquartered in Amsterdam, Netherlands, and operates in 16 countries.

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