Weenat, a France-based agricultural technology company, has announced a significant €8.5M Series C funding round led by the European Circular Bioeconomy Fund (ECBF), with contributions from Pymwymic, LIBERSET, and IDIA Capital Investissement. This investment will fuel Weenat’s expansion across Europe, enhancing the agricultural community’s resilience to climate change through its innovative technology.
Agriculture, which consumes 70% of fresh water, faces significant challenges due to water scarcity exacerbated by climate change. Weenat’s mission is to assist farmers in overcoming these challenges by providing essential agro-meteorological data for real-time monitoring of climatic and agronomic conditions, from sowing to harvesting.
Advertisement
Innovative R&D for Soil Monitoring
Founded in 2014 by Jérôme Le Roy, Weenat has embarked on an ambitious R&D program to monitor soil water content across Europe in real-time. This program leverages data from Weenat’s extensive network of soil sensors, the largest of its kind in Europe, combined with satellite imaging and artificial intelligence. The goal is to enable farmers and agricultural industries to anticipate climatic hazards and optimize farm management.
A Growing Presence in the Agricultural Sector
With 60 employees and over 200 partners, including cooperatives, retailers, research institutes, and agribusinesses, the french company caters to more than 25,000 users and has installed 25,000 sensors. The company is expanding its services in eight European countries: France, Spain, Germany, Italy, Belgium, the Netherlands, Luxembourg, and Switzerland.
The Role of the European Circular Bioeconomy Fund
The ECBF, a private venture capital fund launched by the European Commission, focuses exclusively on the bioeconomy and circular economy. With €300 million under management, the ECBF invests in European entrepreneurs driving the transition from a fossil-based to a bio-based economy.
Stéphane Roussel, Partner at ECBF, praised Weenat for its profitable growth and scientific excellence in the precision irrigation market. “Weenat’s track record and the trust it has earned from farmers have positioned it as a leader in France. We are confident in Weenat’s ability to impact the wider market significantly,” Roussel concluded.
With this Series C funding, the startup is poised to make a substantial impact on water management in agriculture, offering innovative solutions to combat water scarcity and support sustainable farming practices across Europe.
