Farmeron’s $1.4 million seed round: ‘This region is full of talent’BY Vukašin Stojkov ON June 7
Farmeron, a startup from Croatia that helps farmers from all around the world to track their farms’ performance, has gotten a 1.4 miliona dollars seed investment for business development from Soft Tech VC and New Ventures.
Previously 500 Startups and Seedcamp had invested in Farmeron, with all previous investors following in this round.
This startup is targeted at quite a different, refreshing market than as opposed to your average average startup. Also this market appears to be quite promising, having in mind that only in the US the beef industry was worth $79 billion last year.
Farmeron’s web app enables it’s users to follow all the relevant information about their cows in real time, including info on milk production, weight, health info and many other relevant metrics.
With the help of this data and reports that Farmeron generates users can optimize their daily procedures, maximize income and simplify the whole farm management process. The product is already being used on 450 farms in 14 countries across the world.
Investors know about South-East Europe
We asked Matija to answer a few quick questions for us – see how Farmeron reached this point in spite of prejudices within the startup community and also his recommendations to entrepreneurs from this region.
In less than a year you received an investment from Seedcamp, 500 Startups, then this latest round… What was key to this success?
The latest round signifies that we’re on the right track, and is a confirmation by the investors that they believe in our project following trust that farmers all around the world are giving us.
Our road was difficult indeed, since we fought prejudice from the tech community regarding the validity and need for software solutions in agriculture.
Still, it is obvious that software companies must lead the newest, most radical revolution in the food production industry.
How did you come across the idea to create Farmeron and help farmers manage their farms?
The idea for Farmeron came during my studies, when I was actively involved in the workings of my father’s farm.
Difficulties he had in managing his data made me thinking about software that would at least partly solve these problems. SaaS, ie. a cloud solution turned out to be the perfect model for testing and distributing that product.
What would you recommend to the young entrepreneurs of this region, what is the way to global success from the Balkans?
To the young entrepreneurs I would say to never give up and to start working on new, exciting projectsn.
Investors know well about our small SEE region – and the capital is available for quality projects – and now we need to start a new wave of startups that will continue proving how our region is full of talent that can compete with anyone on the global market!
Photo of Matija is courtesy of Marinshe.