30MHz receives investment of € 3.5 million
“The ease of use of ZENSIE should become the market standard”
30MHz has received an investment of 3.5 million EUR. The amount is used to accelerate product development and to further improve worldwide distribution. It is 30MHz’s vision to create a space where all products and services are digitally accessible for growers, advisers, suppliers, distributors and researchers.
Accelerated innovation of the sector
The money has been raised by agricultural related funds: SHIFT Invest and the Rabo F&A Innovation Fund. The investment parties foresee 30MHz playing a major role when it comes to digital agriculture. “We have known the company and the 30MHz Team for a few years and are impressed by their speed and agility. We expect that 30MHz will play a major role within the future development of digital agriculture. On the one hand to accelerate innovation and on the other to achieve higher quality produce with fewer resources, says Guus Verhees, Managing Partner at SHIFT Invest.
Co-Founder and CTO Flavia Paganelli is convinced that growth in the sector is immeasurable, “this sector will always exist, because we need food to survive. We have created a sustainable product that is also available in areas where there are fewer resources, such as economically developing regions. ZENSIE has also made it easier to share knowledge proportionately.”
The investment in 30MHz will continue to drive its growth as a dominant brand in the sector. 30MHz CEO, Jurg van Vliet, says “This specific industry is ripe for DIY digitization – ZENSIE’s ease of use means that it will become the go to product in the market. Although we have only been active in the horticultural and agricultural sector for 2.5 years, we fully understand the potential within this market. By working with our customers and partners we are looking forward to further developing the platform and thanks to this recent investment we are now able to further expand internationally.”
“Rabobank works on solutions for the world food problem and the strengthening of sustainability in food & agricultural sector,” comments Richard O’Gorman, Director of Rabo Food & Agri Innovation Fund. “The work of 30MHZ is aligned with the vision of Rabobank to drive sustainable agriculture and therefore Rabobank is more than willing to support 30MHz and the team in a successful future.” With its cost-effective solution to providing detailed crop analytics, from data gathering, to ground-breaking front end analysis and data sharing through its propitiatory platform 30MHZ sets the bar in this field of expertise. Through this investment both parties help each other in their missions.
The investment parties are proud to have invested in 30MHz, a scale-up gaining strong market traction and off leading technology. Verhees and O’Gorman agree: “30MHz is aligned with our vision to drive sustainable agriculture and we look forward to supporting 30MHz and the team in a successful future”.
About SHIFT Invest
SHIFT Invest is a Dutch venture capital fund that invests in innovations in agriculture, healthy food and green technologies. Through its investments, SHIFT strives to achieve a positive impact on the environment or health, in addition to financial returns. Together with the partners Wageningen UR, Menzis, TU Delft, Rabobank and WWF fund, SHIFT offers entrepreneurs a broad network and knowledge of the sector. SHIFT is managed by New Balance Impact Investors, experienced investment professionals and entrepreneurs. shiftinvest.com
About Rabo Food & Agri Innovation fund
Rabo F&A Innovation Fund (RFAIF) is part of Rabo Corporate Investments, providing seed and early growth capital to innovative companies across the Food & Agri supply chains with a geographic focus on Western Europe and the USA. RFAIF looks to invest in companies that can make a positive impact in the F&A sector, and leverages Rabobank’s leading F&A network and knowledge to support the sustainable growth of its portfolio companies. rfaif.nl
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