Agroop, an agricultural technology startup based in Portugal, just launched its fourth equity crowdfunding campaign on Seedrs. The company is seeking €500,000 in exchange for 11,03% of its equity, which translates into a pre-money valuation of €4M.
The campaign, which will be live for at least 60 days, can be accessed here.
The funding obtained with this campaign will enable Agroop to continue developing its product and, particularly, to strengthen its international expansion.
With its previous Seedrs campaigns, Agroop was able to raise around €685,000. With the first campaign, in 2015, it became the first Portuguese startup to be funded through Seedrs, securing €75,000; one year later, the company raised another €95,000; then, in 2017, Agroop obtained €514,000 (with 257% overfunding).
“We’re launching this investment round to keep innovating and growing, to strengthen our value propositions, and to consolidate our international expansion strategy. We want to invest more assertively in high-potential markets like the USA – where we already have strong early-adopters – and Australia, where we have motivated clients and partners,” said Bruno Fonseca, Agroop’s CEO.
In 2018, Agroop launched a new combined product for the agriculture industry – Stoock, a multi-sensor that measures data about the crops, and Agroop Cooperation, a software that allows users to analyze that data. The goal is to help farmers and consultants manage crops’ water needs and prevent plagues and diseases – thus improving the quality of their crops, saving resources and increasing their business’ efficiency.
The technology has already gotten Agroop several distinctions: it was chosen by StartUs Insights as one of the most disruptive AgTech companies and Challenge Advisory included it in its list of 8 AgTech companies to watch.