Osborne Clarke has advised Stenon, an agtech company that has commercialized the first real-time soil sensing solution, in its USD 20 million Series A financing round. The round was led by Founders Fund and David Friedberg’s The Production Board. Existing investors including Cherry Ventures and Atlantic Labs participated in the financing.
The new funding will push the company into new markets and the launch of a new range of tools and data services. This will enable Stenon to create new features, recommendations and products which ultimately fuels the usages of Stenon’s systems and services vice versa. Since its formation in 2018, Stenon has become the global market leader in real-time, digital soil data that is totally laboratory independent. This provides farmers with essential data to make optimal and sustainable cultivation decisions, boosting yield, crop quality, and soil health while saving money on inputs.
Stenon’s technology is the only in-field soil sensing solution that has achieved first and only external data accuracy certification by the leading European farmers association in collaboration with a panel of leading institutes like the Julius Kühn Institute in Germany.
The team which advised Stenon was led by Till-Manuel Saur and consisted of Robert Marx, Carina Harksen, and Philipp Niedermeyer (all Corporate / VC, Berlin), Nicolas Gabrysch (Corporate / VC, Cologne) and Reinhard Bunjes (Banking / Finance, Cologne).