Ag-Tech Company Agreena Raises $50 Million In Funding

Agreena, a Danish agriculture tech company, has secured 46 million euros ($50 million) in a Series B funding round, which will help the company pursue its goal of transforming regenerative, environmentally friendly agriculture into a profitable opportunity for farmers.

According to Simon Haldrup, CEO, Agreena offers incentives to farmers to shift to sustainable farming, including practices that reduce and remove carbon, by turning what is often a risky undertaking into a profitable one.

As per the speaker, “making mistakes in the process could lead to a loss of yield during the initial years. However, instructing farmers to stop ploughing is not a viable solution.”

To tackle this issue, Agreena offers a business opportunity for farmers by enabling them to convert their reduced emissions into carbon certificates. These certificates can be purchased by other companies to offset their emissions, thereby generating additional revenue for the farmers.

According to Haldrup, introducing new agricultural practices like crop rotations and cover crops can cause a yield loss for farmers, but they can counteract this by creating an extra income stream.

Agreena, backed by HV Capital, aims to raise funds to improve financial services for farmers, including facilitating access to green loans. These loans can assist with the costs associated with transitioning to regenerative agriculture, such as purchasing new equipment.

According to Haldrup, “while carbon credits may be the starting point, their ultimate goal is to create a range of services that provide farmers with various layers of value as they transition.”

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