aWhere is set to launch a $4 million equity financing round on the investment crowdfunding platform AgFunder. The Colorado-based agtech company delivers hyperlocal weather data and recommendation to farmers. Its climate information service draws up exclusive data content and proprietary algorithms, and was developed to deliver data to farmers in developing and emerging markets who do not have access to advanced technology.
COO of aWhere Dave Lundberg noted,
“aWhere has already invested extensively in our platform and data, and we now see more clearly than ever before, a rapidly growing opportunity to help those 500 million farmers around the world without access to the types of advanced agricultural technology available to the advanced farmers.”
aWhere will enter into a 9-day investment period on AgFunder with a target equity raise of $4M for the round. The company grossed $2.25M in 2013, and the company’s team is comprised of alumni from Syngenta, Microsoft, MIT, Hewlett-Packard, and Dun & Bradstreet. aWhere’s existing customers include Monsanto, Syngenta and USAID.
CEO of AgFunder Rob Leclerc stated, “Monsanto’s $1 billion in acquisitions of agtech companies woke tech investors to opportunities in the agriculture sector, particularly in Silicon Valley, where venture capitalist are more used to seeing billion dollar social media companies. With other agriculture companies such as John Deere, Syngenta, Pioneer all eyeing the space, agtech investors are betting that the incumbents will be hungry for acquisition targets as they will be forced to bring Silicon Valley DNA into their ranks.”
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