Berlin-based agtech startup hexafarms has secured €1.3 million in a pre-seed round. The funding was led by Speedinvest and joined by Mudcake and Techstars.
- hexafarms, a German startup founded in 2021 by David Ahmed, specializes in developing software for indoor agricultural food production. The company focuses on improving vertical indoor farms and greenhouses through the use of artificial intelligence and machine learning technologies. Its system is designed to control crop cultivation processes, reduce losses, and enhance agricultural forecasting capabilities.
- Headquartered in Berlin, hexaframs employs a team of 10. Additionally, the startup partners with several global companies, including Aranet, Priva, Amazon Web Services, Ridder, Quantified, and Nvidia.
Details of the round
- The investment in hexafarms was led by Speedinvest, a Vienna-based venture capital firm that operates across several European cities, including Berlin, London, Munich, Paris, and Vienna. Speedinvest manages over €1 billion in assets.
"The agricultural sector is in urgent need of innovative solutions to address the pressure from climate change on commercial food production process and food insecurity. We have strong confidence in hexafarms and cannot wait to see them further develop their AI and machine learning capabilities and expand their team of experts. We are convinced that their app will transform commercial food production through optimization and digitalization,” Partner at Speedinvest, Andreas Schwarzenbrunner, stated.
- Other investors include Swedish VC firm Mudcake and NewYork-based pre-seed backer Techstars.
- hexafarms plans to use the new funding to enhance its AI capabilities and expand operations. Specifically, the company will develop more advanced AI models aimed at optimizing crop production and reducing losses.
