Mobile technology isn’t typically the first thing that comes to mind when thinking about farming or agriculture; however, one company has proven how beneficial innovation can be in the sector. AgriWebb has been building mobile solutions for farmers to optimize their operations since 2014 and has pulled in several venture capital raises since. Now, the company is announcing additional capital to its latest Series B raise.
On Tuesday, AgriWebb announced that it added $6.7 million to its Series B round which closed back in February of 2021. The company’s total amount raised in the round now sits at $29.3 million. The investment brought in two new investors: Germin8 Ventures and iSelect Fund.
AgriWebb is headquartered in Australia but launched its U.S. headquarters in Denver last year following the Series B raise. The company is also a former Built In Future 5 startup.
With AgriWebb’s mobile app, farmers have a tool that enables them to keep track of their farming data, including the inventory of equipment and livestock. It can also create a visual render of a farm that displays useful data on grazing history. The mobile app can help farmers better understand their operations and run them in the most profitable and efficient manner, according to the company.
“Livestock producers deserve better technology to help them maximize their business and consumers need more reliable provenance for the animal and environmental welfare of their food,” Justin Webb, AgriWebb co-founder and executive chairman, said in a statement. “We know it and the investment community reflected that dynamic. AgriWebb has always been about serving the farmers, and this round of funding doesn’t change our mission, it simply magnifies it.”
Prior to the Series B addition, AgriWebb had raised $37 million in venture funding, according to Crunchbase. Most of the company and its operations are based in Australia but it currently has about 13 employees in the Denver area, including AgriWebb’s CEO and co-founder Kevin Baum.
According to a release, the new capital from the Series B addendum will be used to roll out new partnerships and features for the mobile app. The new rollouts will help farmers adhere to the best environmental practices.
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