Weenat successfully raises EUR8.5m to accelerate water savings and European expansion
Weenat, the European leader in agricultural soil water management, announces the closure of its Series C financing round, securing an €8.5 million investment. This round will enable Weenat to expand its innovation across Europe and enhance the agricultural community’s resilience to climate change by leveraging its cutting-edge technology.
- Series C funding enables Weenat to continue innovating to offer smart weather and soil data to the farming industry all over Europe.
- An international funding consortium including European Circular Bioeconomy Fund (ECBF), a European German-based bioeconomy impact fund, Pymwymic, a Dutch-based impact investor, LIBERSET, a transatlantic investment company, and IDIA Capital Investissement, a Series B investor reaffirming its support in Weenat.
- Another significant step to help the agricultural industry in combating water scarcity and climate change.
Innovation at the heart of its strategy
Climate change is an undeniable reality, making water scarcity and management a major environmental challenge for the coming decades. This situation carries profound implications for farmers, given that agriculture accounts for 70% of global freshwater withdrawals1, with more than half of this water being inefficiently utilized due to the lack of suitable tools.
*Source : Food and Agriculture Organization of the United Nations (FAO)
Weenat is dedicated to assisting farmers in facing the challenges of water scarcity, with innovation at the heart of its strategy. Through the successful acquisition of Weather Measures, a data driven Agtech start-up, in 2021, the company reinforced its R&D capabilities and remains committed to providing the farming community with cutting-edge technologies, whether through internal development or external acquisitions.
Weenat has secured €8.5million in investment #Europe #innovation
To achieve these objectives, the company has recently secured €8.5 million in investment from ECBF, a European German-based bioeconomy impact fund, Pymwymic, a Dutch-based impact investor, LIBERSET, a transatlantic investment company, and IDIA Capital Investissement, a Series B investor that reaffirms its confidence in Weenat. These funds are strongly committed to act for a more sustainable agriculture system.
Jérôme Le Roy, founder of Weenat says: “We are thrilled to welcome new investors who share our commitment to make the most meaningful impact. With these new financials means, we will continue to innovate, equipping the farming community with data-driven tools essential for more resilient agriculture which currently faces so many challenges.”
Making a significant impact for farmers across Europe
Since its inception in 2014, Weenat has established itself as a technological leader, pioneering the first wireless weather station connected to a mobile application. Since then, the company developed a real know-how in manufacturing reliable sensors and has cultivated in-house proficiency in engineering, machine learning, agronomy, and metrology.
With a decade of experience, Weenat is now profitable in its core operations, boasting over 25,000 sensors deployed throughout Europe. Its network is supported by over 200 in-field partners including leading cooperatives, dealers, and food industries in France, Spain, and Germany.
Helping farmers make strategic decisions
In addition to collecting extensive datasets of spatialized and calibrated weather and soil water data, Weenat provides solutions to the food and agricultural industries, fostering climate-resilient practices.
This unique blend of capabilities positions Weenat for robust expansion across Europe and beyond.
“As a leading player in weather data and water management, Weenat’s ambition is to deploy its innovations throughout Europe, empowering farmers with effective and user-friendly solutions,” explains Jérôme Le Roy. “In 2023, our 10.000 soil sensors resulted in the conservation of 32 million cubic meters of water. The potential impact of scaling our solutions across all fields in Europe is truly stunning!”.
Jérôme Le Roy
Founder of Weenat
Innovation to mitigate water scarcity
Understanding soil dynamics remains the main challenge for irrigators. That’s why Weenat has launched an ambitious R&D program aimed at real-time monitoring of soil water content throughout the root zone depth across every plot in Europe. Launched in 2023, this program utilizes data from Weenat’s extensive network of soil sensors, the largest in Europe, alongside satellite imaging and artificial intelligence.
An innovative water management project
Leveraging the combined expertise of its data scientists, agronomists, and meteorologists, the company already achieved promising scientific results. It will now accelerate its innovation track to provide the entire farming community with the key data for the coming years.
“With climate change and water scarcity pressing upon us, Weenat stands out in the rapidly growing precision irrigation market for its track record of profitable growth. A first-rate founding team and a high level of scientific excellence have earnt them the trust of farmers and a leading position in France. We’re really confident in Weenat’s ability to make its mark on the wider market, and excited about its potential for exceptional impact!” concludes Stéphane Roussel, Partner at European Circular Bioeconomy Fund (ECBF).
