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Funds for Farming Information Firm
Perth, Australia-based agricultural information specialist Agworld has secured $6m in a Series C round of financing led by Reed Elsevier Ventures, as it looks to expand into North America.
The firm was founded in 2008 and provides information management and cloud collaboration software via iPad and iPhone for a community of more than 12,000 farmers who grow crops receiving information via its platform. Tools include comprehensive crop production plans, geospatial data interrogation, and financial and crop performance reporting.
The funding brings the firm's total to $12m, and also included existing investor Yuuwa Capital.
Agworld operates in South Africa, New Zealand and the US, with an existing office in Colorado and another being set up in California. Co-founder and CEO Doug Fitch says the company will also look to expand into Canada and then brazil, and adds: 'We run a staff of around 41 globally and we will ramp that up over the next couple of years to around 55 to 60 in total. The US is where most of our staff expansion will be.' Of the new investment partner, he comments: 'As the venture capital arm of one of the largest global data and information solutions companies, Reed Elsevier Ventures is an ideal investment partner for Agworld, bringing with them extensive knowledge of the big data industry and fast moving SaaS business models'.
Web site: www.agworld.com.au .
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