Rockstart Allocates €3M for its First-Ever Agtech-Focused Program

Applied Tech Review | Sunday, October 11, 2020

Rockstart kick starts the new decade strong, closing new investment in the AgriFood fund.

FREMONT, CA: Agrifood will be a domain of innovation soon that many startups will turn into global businesses in the following years. In that regard, Rockstart kick starts the new decade strong, closing new investment in the AgriFood fund. Copenhagen, Denmark-based startup accelerator Rockstart has recently announced that it has closed an additional €3 million funding from international investors to invest in its first dedicated agrifood fund and cohort. The new investment follows Rockstart AgriFood’s September announcement, for which the company had raised €15 million for ten AgriFood tech startups. This latest round of investment was seeded by Danish state fund Vaekstfonden and Dutch investment group De Hoge Dennen. Also, unnamed high net worth individuals and family offices from the Netherlands, Denmark, the UK, Sweden, Germany, Switzerland, and Belgium backed the initial fundraising round.

Nine-year-old Rockstart, which also carries out programs for the energy and health sector, started the first-ever cohort for its agtech program. To name a few among ten startups in its cohort: ChefMe is a cloud-based management platform for hiring private chefs, handle administration, and generate income with ease. Vultus is another startup from Sweden that focuses on eliminating waste in farming with satellite-based fertilizer recommendations. Beyond Leather Materials is a Denmark startup committed to producing quality textiles. Other startups in the Agrifood Cohort include Agranimo, Nordetect, Miils, KrishiHub, Wenda, Raahandel, and Tractor Junction.

Companies are pleased with the connection they share with the food and agriculture landscape. Rockstart creates pathways for startups addressing critical challenges in the food supply system, helping to capitalize on the opportunity which the positive impact represents. For all its programs, Rockstart looks to create access for startups to capital, market, expertise, and community. Specifically, AgriFood, looks for startups that innovate in the following areas: optimizing processes and practices, reducing and eliminating food waste, and improving traceability.

Startups are also eligible for potential follow-on investments from Rockstart up to their Series B stage. The program provides all participants with networking and mentorship opportunities as well as access to the broader Rockstart community.

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