AgTech startup Hectare raises $20M

 

Hectare, a Software-as-a-Service platform that gives farmers insights on trading and logistics, raised a $20M Series A.  The U.K.-based startup plans to use the funds for product development and to expand to other markets.  Hectare claims 130,000 agriculture businesses on its platform in the U.K., with a 50% split on crops and livestock companies. The startup says it reduced the carbon footprint of the beef and sheep supply chain by 2.5 million livestock miles. "We initially saw a clear path for technology to reduce farming transaction costs by up to 90%. Those opportunities then spread wider into sustainability benefits including animal welfare, traceability, food sustainability, and security," said the startup's co-founder and CEO, Jamie McInnes. Last month, Source.ag, a startup that helps commercial greenhouses optimize their yield via AI models, raised a $23M Series A.