Van der Hoeven participates in agtech startup Source.ag during USD 10M investment round
Van der Hoeven Horticultural Projects (Van der Hoeven) has participated in the initial investment round of agtech startup Source.ag (Source).
Dutch Agtech startup Source is developing technology to democratize access to sufficient fruit and vegetables through A.I. powered horticultural infrastructure. By combining plant models with machine learning techniques, Source can simulate crop development in any environment. Their technology provides growers with advice on the optimal cultivation strategy and support to realise it.
Van der Hoeven has participated in the recent funding round, where Source raised 10M USD to further finance its technology development. The funding round was led by Acre Venture Partners, with participation from MIT-affiliated E14 fund and Astanor ventures. The company also raised from industry insiders.
Michiel Schoenmaeckers, CEO Van der Hoeven: “Source has incredible potential to advance our industry towards sustainable food production. We are proud to be part of the same ecosystem and look forward to deploy and improve their technology on our Design, Build and Operate projects soon”.
Van der Hoeven aims to bring the horticulture forward and intents to deploy the Source technology on its projects globally where maintenance & operations are part of the scope. Van der Hoeven expects the A.I. technology will help to reduce the levelized footprint of produce in terms of water and CO2, and optimize economics. It also enables Van der Hoeven to train and further educate local growers anywhere.