SK Networks to invest $2 mn in Dutch agtech startup

The company participates in series A funding round of Source.ag, an AI-driven greenhouse automation solutions startup

The farm equipped with Source.ag's smart farming technology
The farm equipped with Source.ag's smart farming technology
Hyung-Kyu Kim 1
2023-06-08 10:12:58 khk@hankyung.com
AgTech

SK Networks Co., a South Korean trading company, announced on Thursday that it will invest $2 million in the series A round of Source.ag, a smart farming startup, through its US investment arm Hico Capital.

Source.ag, based in the Netherlands, is a developer of artificial intelligence (AI)-driven greenhouse automation solutions.

It utilizes AI to recommend optimal sowing timing, location and pruning strategies, as well as suggest suitable growth environments and harvest timing. This enables the prediction of expected yield and revenue.

"Source.ag possesses top-level competitiveness even in the advanced smart farming nation of the Netherlands," an SK Networks official said. "This investment aligns with our company's direction of not only making our daily lives more convenient but also contributing to the resolution of social and economic inequalities."

Following last year's investment in self-driving tractor manufacturer Sabanto Inc., SK Networks has expanded its agricultural technology investment into the field of smart farming with the latest investment.

Write to Hyung-Kyu Kim at khk@hankyung.com
#SK Networks #Source.ag #series A round #Sabanto #smart farming #Hico Capital

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