Source: Investible plants $500,000 in pre-Series A for Queensland agtech startup DataFarming

Summary:

  • DataFarming, a Toowoomba-based agtech startup that helps farmers leverage their farm data, has raised $500,000 in a pre-Series A round via Investible, in a move to boost sales and product development.
  • The business, founded by Tim and Peta Neale, services more than 120,000 paddocks across 28,000 farming enterprises in Australia, and the UK, South America, Africa and Europe. Local market penetration is currently at an impressive 40%.
  • DataFarming offers a both a freemium solution and an enterprise-grade platform called Agri-Intelligence for larger companies and industry partners.
  • Other solutions include the cloud-based Digital Agronomist, which delivers satellite images to farmers every five days to help manage variability, and support decision making.
  • Key to their product adoption has been the high levels of trust achieved among users owing to the founders background in agriculture and farming.
  • DataFarming is the 9th early-stage startup backed by the Investible Climate Tech Fund, as global agriculture productivity is predicted to drop by 17% by 2050, representing a huge opportunity for tech-driven initiatives to support society’s adaptation to climate change impacts.

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