“Agrando operations have been suspended” is on the Website of the Munich-based Agtech startup As recently as June, it was noted that the company’s business operations were provisionally filed for insolvency continues to operate without restrictions. Agrando cited the war in Ukraine and the resulting difficult market environment as the reason for the insolvency.
Impact of the Ukraine war on the entire agricultural sector
Jonathan Bernwieser, founder and CEO of Agrando, told Munich Startup at the time:
"Given the impact of the war in Ukraine on the entire agricultural sector, the decision to file for preliminary insolvency was the best option to continue operations and preserve jobs. Our team is very well positioned to handle this phase, and we are currently working intensively on solutions to stabilize the company."
According to information from deutsche-startups.de The insolvency was administered by attorney Axel Bierbach with the goal of securing and restructuring the company. This goal ultimately could not be realized.
Series A over 12 million euros
Agrando was founded in 2017 and operated an independent platform that connected all players in the agricultural trade, both regionally and nationally. For example, agricultural businesses could purchase inputs such as seeds and pesticides tailored to their region. For retailers and manufacturers of inputs, the platform served as an additional sales channel or even a gateway into online trading. Furthermore, the startup supported farmers, agricultural traders, and manufacturers in their day-to-day operations with data-based analyses and industry-specific, personalized consulting.
In July 2021, the Munich-based startup was able to use this approach to Series A financing round successfully completed the round and raised €12 million. The round was led by Yabeo Impact, the impact fund of the Munich-based early-stage investor Yabeo. At the time, the financing round was considered the highest sum ever raised in a Series A round in agricultural trading in Europe. Agrando intended to use the fresh capital to invest in its internationalization and scaling, as well as research and development.
According to the company, part of the Agrando team is now employed by Agriconomie, a French online shop that offers agricultural supplies for farms.
