Pre-Seed investment of €1.3 million was secured by hexafarms, an agtech startup located in Berlin, Germany that employs AI to improve greenhouses.
Investors
- Techstars
- Mudcake
- Speedinvest
Use of funds
The business plans to employ the money to grow its staff of research and development specialists and enhance its machine learning and artificial intelligence skills.
“The global agriculture industry is depressingly under-optimized, despite the fact that it plays a fundamental role on a vast scale. Our goal is to completely transform this environment. Our objective is to achieve potential savings of about 30% in variable costs and losses through the use of our continuously improving AI models. We can exceed the capabilities of human intervention by using algorithms to meet the unique demands of each plant at any size.”
David Ahmed
About Hexafarms
Hexafarms is an agtech firm that creates software for indoor commercial food production. David Ahmed is the company’s founder and CEO. Through the use of AI and data harvesting, its SaaS optimizes and monitors vertical indoor farms and greenhouses in real time. Using its software, the business has monitored more than 40 hectares of commercial greenhouses throughout the past six months. With up to 95% accuracy, its AI algorithms can predict crop production up to four or eight weeks ahead of time. Their goal is to enable farms all around the world to operate as profitably as possible.
