“The operation of Agrando has been discontinued” is stated on the website of the Munich agtech startup. As recently as June, it was noted there that the company’s business operations continued without restriction despite a preliminary bankruptcy filing. Agrando attributed the reason for the bankruptcy to the war in Ukraine and the difficult market conditions it created.
Impact of the Ukraine war on the entire agricultural sector
Jonathan Bernwieser, founder and CEO of Agrando, explained at the time to Munich Startup:
“Given the impact of the war in Ukraine on the entire agricultural sector, filing for preliminary bankruptcy was the best option to continue operations and preserve jobs. Our team has excellent conditions to manage this phase, and we are currently working intensively on solutions to stabilize the company.”
According to information from deutsche-startups.de, the bankruptcy was managed by attorney Axel Bierbach with the goal of securing and restructuring operations. Ultimately, this effort could not be implemented.
Series A funding of 12 million euros
Agrando was founded in 2017 and operated an independent platform that networked all actors in agricultural trade both regionally and nationwide. For example, farms could purchase operating supplies such as seeds and crop protection products tailored to their region. For traders and manufacturers of operating supplies, the platform was an additional distribution channel or even an entry into online retail. Additionally, the startup supported farmers, agricultural traders, and manufacturers through data-based analyses and industry-specific, personalized consulting in their daily operations.
In July 2021, the Munich startup successfully completed a Series A funding round with this approach and raised 12 million euros. The round was led by Yabeo Impact, the impact fund of early-stage investor Yabeo based in Munich. At the time, the funding round was considered the highest amount ever raised in a Series A round in agricultural trade across Europe. With the fresh capital, Agrando planned to invest in internationalization and scaling as well as research and development.
According to company information, part of the Agrando team is now employed at Agriconomie, a French online shop that offers agricultural supplies for farms.
