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Belarusian Agrotech with development for the whole world: OneSoil raises $5m in Series A financing

Thursday, April 22, 2021

Startup Jedi

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Round A for Belarusian startup OneSoil has completed raising $5M from funds Almaz Capital and PortfoLion. It became known yesterday, but the terms of the deal and the total valuation were not disclosed.

Big data analysis, satellite imagery and machine learning algorithms allow the company to maintain its own technology to define field boundaries. OneSoil app now has information on 5% of all arable land in the world.

The service is free for use by farmers; it allows them to monitor crops, plant development in the fields, and analyse data from agricultural machinery. The startup is monetised through contracts with agricultural market players — fertiliser producers, insurance companies and others. The company provides them with data and analytics on the condition of crops and fields. For example, OneSoil cooperates with BASF — the largest chemical concern.

The startup was launched in 2018 by Vyacheslav Mazai, Alexander Yakovlev and Vsevolod Genin, entrepreneurs from Belarus. According to Crunchbase, the total amount has raised to date is $6.5M.

According to Pavel Bogdanov of Almaz Capital, investors have been impressed by how quickly farmers, who usually have a hard time changing their daily tools of work, began to adopt the OneSoil app. Now, more than 200 000 farmers from 180 countries are among the app’s users. The plan is to direct financing towards “strengthening the position” in Europe, North America and Latin America.

22 Apr 2021

 

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