Stenon lands 20 million US dollars

The company's technology is designed to provide farmers with data that can help them make cultivation decisions.

The Potsdam-based start-up Stenon successfully completed a Series A financing round shortly before Christmas. The agricultural technology company was able to raise 20 million US dollars. The Founders Fund and David Friedberg's holding company The Production Board led the round. Existing investors, including Cherry Ventures and Atlantic Labs, again participated in the financing. The commercial law firm Osborne Clarke advised Stenon on the financing round.

Stenon intends to use the money to penetrate new markets and develop new functions, services and products. Stenon has apparently already been able to celebrate successes in the past. This includes the fact that the company's technology is the only solution for soil measurement in the field to receive external certification of data accuracy from the leading European agricultural association. The association worked with a committee of institutes such as the Julius Kühn Institute for Cultivated Plants in Dossenheim to achieve this.

The company was founded in 2018. Since then, Stenon has become the global market leader for digital, laboratory-independent real-time soil data, according to its commercial law firm Osborne Clarke. The aim is to provide farmers with data that they can use to make optimal and sustainable cultivation decisions. The aim is to increase yields, crop quality and soil health. At the same time, they should be able to save capital for operating resources.