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OneSoil raises $5m to expand services in Europe, North America

April 21, 2021

Swiss-Belarusian startup OneSoil has raised a $5 million Series A round led by global VC firm Almaz Capital with participation from PortfoLion.

OneSoil develops mobile and web-based apps that use machine learning and satellite imagery to offer agricultural analytics and field insights for farmers at no cost. This includes variable-rate seed and fertilizer recommendations.

It also provides paid-for services like analytics to major agribusinesses like BASF and Krone.

One of the biggest barriers to agrifoodtech adoption remains the financial cost of trying new technologies. This is especially true for farmers in developing regions who are already facing poor economic conditions. Launched in 2018, it currently counts 200,000 users on its platform in over 180 countries.

By offering its services for free, OneSoil allows farmers to not only benefit from agrifoodtech innovation, but it may also whet their appetite for other tech-driven solutions. Meanwhile, monetizing its platform for companies helps bring agribusinesses to the table as part of the solution to getting more farmers using technology.

OneSoil is using the new capital to increase its presence in Europe and the Americas by hiring tech and marketing professionals. It is also on the hunt for business partners and consultants in agronomy throughout North and South America.

A number of other startups are aiming to get technology into farmers’ hands around the world. Wefarm (an AgFunder portfolio company) closed an $11 million Series A+ in March 2021. The startup enables smallholder farmers to connect with each other free-of-charge via SMS to share best practices and price intelligence, and transact in a trusted environment. It has primarily focussed on Africa and has opened offices in Kenya, Tanzania, and Uganda.

Other players in this realm include India’s Agrim and Dehaat (an AgFunder portfolio company), Argentina’s, and Turkey’s Tarfin.

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