Speedinvest
Assembly Line
hexafarms secures €1.3M for AI-optimised commercial food production
hexafarms, an agtech leveraging AI to optimise greenhouses to power the future of food production, has snapped €1.3 million in pre-seed funding. The round was led by leading European early-stage investors Speedinvest, which recently invested in QphoX and Necture, with participation from Mudcake and techstars.
This fresh round of funding brings the total capital raised by the company to over €2.5 million. It will enable the company to continue to invest in its AI and machine learning capabilities, increase the accuracy of predictions, and grow its portfolio of crops.
Founded in 2021 by David Ahmed, Huijo Kim, and Felix Kirschstein in Berlin, hexafarms develops software for indoor commercial food production. The company’s SaaS harvests data and leverages AI to monitor, control, and optimise greenhouses and vertical indoor farms in real time. Its AI models can forecast crop yield four to eight weeks in advance with accuracy as high as 95%. Their vision is to empower farms across the globe to run as efficiently as possible.
Mercanis Raises $10M Series Seed Investment in Mission to Boost Further Savings for Procurement Teams
Mercanis, a Berlin-based start-up announces the completion of its latest seed funding of $10M. The round was led by institutional funds such as Singals.VC, DI Technology, and Speedinvest. Successful entrepreneurs and well known angels such as Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana), Victor Jacobsson (Klarna) also played a significant role. Mercanis sets itself apart from competitors with its easy-to-use sourcing and supplier management tools. These tools leverage networking benefits and automated processes to save more than 40% of the costs.