Weenat, a French agtech that provides farmers with mobile and connected solutions, has recently secured €8.5 million in investment from ECBF, a European German-based bioeconomy impact fund, Pymwymic, a Dutch-based impact investor, LIBERSET, a transatlantic investment company, and IDIA Capital Investissement, a Series B investor that reaffirms its confidence in Weenat. These funds are strongly committed to act for a more sustainable agriculture system.
Climate change is an undeniable reality, making water scarcity and management a major environmental challenge for the coming decades. This situation carries profound implications for farmers, given that agriculture accounts for 70% of global freshwater withdrawals1, with more than half of this water being inefficiently utilized due to the lack of suitable tools.
Weenat is dedicated to assisting farmers in facing the challenges of water scarcity, with innovation at the heart of its strategy. Through the successful acquisition of Weather Measures, a data-driven Agtech start-up, in 2021, the company reinforced its R&D capabilities and remains committed to providing the farming community with cutting-edge technologies, whether through internal development or external acquisitions.
Jérôme Le Roy, founder of Weenat, said: “We are thrilled to welcome new investors who share our commitment to make the most meaningful impact. With these new financials means, we will continue to innovate, equipping the farming community with data-driven tools essential for more resilient agriculture which currently faces so many challenges.”
Since its inception in 2014, Weenat has established itself as a technological leader, pioneering the first wireless weather station connected to a mobile application. Since then, the company developed a real know-how in manufacturing reliable sensors and has cultivated in-house proficiency in engineering, machine learning, agronomy, and metrology. With a decade of experience, Weenat is now profitable in its core operations, boasting over 25,000 sensors deployed throughout Europe.
Its network is supported by over 200 in-field partners including leading cooperatives, dealers, and food industries in France, Spain, and Germany. In addition to collecting extensive datasets of spatialized and calibrated weather and soil water data, Weenat provides solutions to the food and agricultural industries, fostering climate-resilient practices. This unique blend of capabilities positions Weenat for robust expansion across Europe and beyond.
“As a leading player in weather data and water management, Weenat’s ambition is to deploy its innovations throughout Europe, empowering farmers with effective and user-friendly solutions,” explained Jérôme Le Roy. “In 2023, our 10.000 soil sensors resulted in the conservation of 32 million cubic meters of water. The potential impact of scaling our solutions across all fields in Europe is truly stunning!”
“With climate change and water scarcity pressing upon us, Weenat stands out in the rapidly growing precision irrigation market for its track record of profitable growth. A first-rate founding team and a high level of scientific excellence have earnt them the trust of farmers and a leading position in France. We’re really confident in Weenat’s ability to make its mark on the wider market, and excited about its potential for exceptional impact!” concluded Stéphane Roussel, Partner at European Circular Bioeconomy Fund (ECBF).
Read the orginal article: https://www.eu-startups.com/2024/04/nantes-based-agtech-weenat-snaps-e8-5-million-series-c-to-combat-water-scarcity-with-data/
