Agreed Earth, an agritech firm that helps farmers cut back their reliance on nitrogen by regenerative farming, has acquired an funding from Regenerate Ventures.
Agreed Earth makes use of distant sensing know-how to precisely generate an auditable well being index, based mostly on the utilization of nitrogen containing chemical compounds.
This implies farmers who use the platform can monitor their progress in the direction of working a decrease nitrogen farm.
It additionally permits banks to lend to farmers extra simply by lowering the chance related to their mortgage books, as farms are much less more likely to go bankrupt within the long-term.
The service permits banks to adjust to the sustainable disclosure necessities (SDR) imposed by the Monetary Conduct Authority.
Agreed Earth additionally supplies schooling and best-practice recommendation on the way to cut back prices by utilizing much less nitrogen-based fertiliser and transitioning to regenerative practices.
Based on the agritech agency, the brand new funding shall be used to develop reference shoppers within the UK, the place the addressable marketplace for their companies is estimated to be £800m.
The newest spherical of funding was led by Regenerate Ventures, which specialises in investing in companies which have applied sciences to assist farmers produce meals with much less affect on the atmosphere.
Paul Rous, managing director at Regenerate Ventures, mentioned Agreed Earth had mixed a novel set of applied sciences and data, together with satellite tv for pc knowledge and knowledge analytics, to supply the answer to a ‘massively misunderstood subject’.
“Everybody desires to cut back the greenhouse gases emitted by farms, however the focus has been on methane from cows and CO2 from equipment.
“Nitrous oxide from fertilizers constitutes 55% of the issue, however it has been ignored.”
He added: “Nicely-targeted cash is important to driving the modifications that may remodel agriculture and save the planet, and Agreed Earth will assist free it up”
Kelly Worth, co-founder of Agreed Earth, mentioned the agency was ‘passionate’ about supporting farmers as they transitioned to extra sustainable farming practices.
“Our core workforce has mixed data of soil science, satellite tv for pc know-how and alter administration to a develop a platform that spans two very completely different industries, farming and banking.
“We wanted a funding accomplice with an intimate understanding of each. Regenerate Ventures fitted that description, and we’re delighted that they are going to assist us obtain our mission.”
Supply: Farming UK