Augmenta S.A. Asset Profile

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Year established

2017

Location

Paris France

Primary Industry

Agribusiness

About

Based in Paris, France, and founded in 2017 by George Varvarelis and Dimitris Evangelopoulos, Augmenta S.A provides Artificial Intelligence (AI) based solutions comprised of the web platform and hardware devices to farmers interested to get the best possible efficiency from the land and increase seasonal net income. The company has its presence in Australia, South and North America, CIS, and Europe intending to enhance arable land's capacity in an environmentally sustainable way. In March 2021, the company raised USD 8 million in a Series A funding led by CNH America Pension Plan, with participation from Pymwymic, Hardware Club and Marathon Venture Capital. Including its a Series A funding, the company has raised a total of USD 11.1 million funding. The company’s products include Augmenta Field Analyzer, In-cabin mobile application and Web Portal. Augmenta Field Analyzer is used to scan crops' health, estimate required fertilizer rate and apply it using spreaders or sprayers all in real-time. In-cabin mobile application and Web Portal offers post-operational and real-time in-depth field analytics. Also, the web portal is used by farmers for fleet monitoring, including tractor’s location and covered acres, machinery analytics (active/downtime) and speed and application rate/analysis. The company’s services include in-season nitrogen real-time VRA, Plant Growth Regulator (PGR) real-time VRA, harvest aid (e.g., desiccants) real-time VRA and in-season multizone nitrogen real-time VRA. In-season nitrogen real-time VRA is used to automatically apply different rates of Nitrogen (liquid/solid) to meet the specific nutritional requirements of crops based on canopy data. Plant Growth Regulator is used to modify plant growth to promote or suppress various growth characteristics, thereby maximizing yield potential. Harvest aid VRA is used to allow efficient timely harvesting of crops, such as cotton to gain maximum yield and financial returns. In-season multizone nitrogen real-time VRA helps farmers to enhance nitrogen use efficiency by using collected data that gives insights about the exact needs of each part of the land. The company generates revenue by providing premium services (such as automation of spraying for specific crop and input combinations) of farmers’ choice from its in-cabin interface. The premium services of the company are sold through a software-as-a-service model (SaaS). The company's premium service costs in between USD 1 and USD 4 per unique acre per year. The company plans to use its proceeds from March 2021 to bring green-on-brown pesticide spraying services to market, along with accelerating R&D around other services it could offer.

Current Investors

Marathon Venture Capital, HCVC

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Primary Industry

Agribusiness

Sub Industries

Hardware, Analytics & Performance Software, Farm Equipment

Website

www.augmenta.ag

Verticals

Agtech, Artificial Intelligence, Cloud Computing, Mobile Apps

Company Stage

Acquired

Total Amount Raised

Subscriber access only

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