Once the Series A fund round ended, the Agtech start-up eAgronom announced that it collected 7.4 million dollars. The funding round was led by Estonia-based Yolo Investments and Latvia-based ZGI Capital with participation from Trind Ventures, Iron Wolf Capital, and United Angels VC.
Designed a farm management software, eAgronom is planning to use the funding for carrying on with the farming-based carbon credit platform of its and exploring new markets in especially non-EU lands. Additionally, the company is getting ready to pay it forward. The plan with the new platform named Solid World “DAO” is to be a fundraising platform for those who are having difficulties financing their carbon projects.
eAgronom’s software was supposed to save time for the father-son relationship
Before building eAgronom, Robin Saluoks was helping his father, a farmer, in the field. This enabled him to observe the essential needs of farmers. But most of it, he was missing his dad because of that workload. To take care of the financial struggles and all paperwork, he used those to build software with the help of his programming skills afterward. Once they tried for their personal use, the software went ahead of theirs.
Founded in 2016 with only three people, eAgronom reached the point to cover 70% of the Estonian market share in six months. Their works are now covered by lots of nature-friendly people which includes environmentalists, environmental experts, developers, entrepreneurs, marketers, and salespeople. It’s not what Saluoks thought, but the father and son now have time for each other.
The pure attempt turned into a start-up
Along the way, the software Robin Saluoks came up with turned into something big. Once government inspectors were satisfied with what they saw, they recommended him to show it to the others, who would probably be interested in it. After seeing the potential of the design, eAgronom is founded by three people: his father, his programmer friend Stenver and himself. Now, they have a huge team including their Pawcity specialists Maurus, Rambo, and Soulless.
The start-up provides farm management software with AI-backed consulting services for farmers. Their main focus is agriculture, but they are using this opportunity to put the effort into preventing and reducing carbon emissions, which requires the best practices for sustainable farming. Now, eAgronom covers 1m hectares of farmlands with shaking hands in agricultural businesses.
“Through our experience helping farmers with technology, we are uniquely positioned to capture the global agri-carbon opportunity. We leveraged our 1-million-hectare farmer portfolio to get started but can’t stop there. To fight climate change, we have to provide transparent tracking and access to capital to all nature-based companies.
We believe there is an outcome that can provide a win to farmers, consumers, the environment, and businesses looking to enhance their green credentials while incorporating the most rigorous standards to measure and certify carbon sequestration. We aim to become the leading developer of high-quality carbon credits.” said Robin Saluoks, co-founder and CEO of eAgronom.
The best way to do it is to invest in the business, it seems, since it comes with a financial burden. Before heading towards the business world, they got a lot of feedback and investments from farmers. Today’s business lands of theirs include Estonia, Latvia, Lithuania, Poland, Slovakia, the Czech Republic, and Germany. After covering all needs of eAgronom, they have decided to share with others in their earlier position.
Happy-to-share for the love of nature
eAgronom is coming up with its platform Solid World to channel liquids into agricultural businesses. They have now raised 12 million dollars to date. The funding will feed more entrepreneurs in fixing climate change.
General Partner at Yolo Investments, Tim Heath said. “Many companies want to be in Web3, but eAgronom and Solid World DAO have actual applications. Voluntary carbon markets lack transparency and liquidity, and blockchain is the best technology for providing both. We are excited to use our experience in crypto to support the company.”
With the help of the current funding, eAgronom is planning to master its farming-based carbon credits platform as well as conquer new markets. According to their goals, the next thing to do is to enhance its carbon tracking technologies and initiate its new platform Solid World DAO. They will provide pre-finances for carbon projects via Solid World Marketplace powered by blockchain and the Web3 community, which will enable buyers to support new projects and use co-benefits through purchasing the NFTs.