Hectare says that it has raised $20 million in Series A funding.
The round was led by existing and private investors.
The investment will be used to support Hectare’s Software-as-a-Service (SaaS) inventory, trading, logistics and market insights product development, and expansion into new international markets.
Since its launch in 2015, the startup has facilitated over $1 billion in commodities trading through its technologies, which generate insights – from animal health to market price benchmarking – so agri businesses can make better informed decisions while increasing their sustainability, productivity and profitability.
More than 130,000 farm businesses now use Hectare’s solutions. By directly connecting everyone involved through its digital solutions, the firm says it is solving the invisible inefficiencies in the farm to factory gate supply chain.
In 2022, its technology enabled farm businesses to optimise the trading of livestock, improving animal welfare and reducing the carbon footprint of the beef and sheep supply chain by 2.5 million livestock miles.
Jamie McInnes, CEO at Hectare, says: “The toughest challenges to solve are often the ones you can’t see, even for those of us who are involved in the movement of crops and livestock day in, day out.”
“Our aim is to solve the invisible problems in the food supply chain by creating connected digital solutions that enable everyone to make small, practical changes – from sourcing grain more locally to digitising paper-based processes like invoicing – to help hit big goals.”
“Whether the focus is enhanced animal welfare or peace of mind on food sustainability and security, our vision is to create a connected farm to factory gate supply chain so crops, livestock and customers are looked after through sustainable agriculture.”
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