To expand its activities across Europe, agro-meteorological data provider Weenat concludes an 8.5 million euro Series C financing round with investors including Germany’s ECBF, the Netherlands’ Pymwymic, and historical investor Idia Capital Investissement.
Read the original CFnews article here.
To expand its activities across Europe, agro-meteorological data provider Weenat concludes an 8.5 million euro Series C financing round with investors including Germany’s ECBF, the Netherlands’ Pymwymic, and historical investor Idia Capital Investissement. Joffe & Associés (Océane Christmann and Clémence Bressolin) advised the European Circular Bioeconomy Fund (ECBF) and Pymwymic on this transaction.
Founded in 2014, the Nantes-based start-up initially caused a stir with its mini-sensors designed to simplify the monitoring of water content in agricultural soils. Looking to accelerate its ambition, the weather data specialist aims to turn its vision into reality with an €8.5 million funding round.
The deal sees the entry of Germany’s European Circular Bioeconomy Fund (ECBF), a fund formed following a European Commission call for tender to finance industrial projects in the field of the advanced circular and ecological economy, as well as Holland’s Pymwymic and Liberset, while long-standing investor Idia Capital Investissement renews its financial support. The latter had led the previous round of 4 million euros in 2021, and previously, the start-up had secured 2 million euros in regional funds in 2019.
“We need to enable farmers to make a living from their work,” explains Weenat founder Jérôme Le Roy for Les Echos magazine. “In addition to further product development, the funds raised will mainly be used to meet our ambitions for European expansion, particularly in Eastern Europe, and may also be used to make further small acquisitions. We’re going to have to come out of this crisis on top,” he concludes.
- Target company : WEENAT
- 29/02/2024
-
Purchaser or Investor : EUROPEAN CIRCULAR BIOECONOMY FUND (ECBF) , PYMWYMIC , LIBERSET , IDIA CAPITAL INVESTISSEMENT , Céline Arsac , Faora Narayanan , Sandrine Vieux-Rochas
- Company Corporate Lawyer : HARLAY AVOCATS , Thibault Chareton , Salim Bencheikh , Bruno Bernery
- Purchaser Corporate lawyer : JOFFE & ASSOCIES , VEIL JOURDE , Laurent Jobert
