Hectare today announces it raised $20 million in Series A funding last year to accelerate the growth of its digital solutions that connect the critical parts of the food supply chain.
The funding round was led by existing and private investors. The investment will be used to support Hectare’s Software-as-a-Service (SaaS) inventory, trading, logistics and market insights product development, and expansion into new international markets.
Hectare has seen significant growth and adoption since its launch in 2015. It has now facilitated over $1 billion in commodities trading through its technologies, which generate unique and extensive insights – from animal health to market price benchmarking – so agri businesses can make better informed decisions while increasing their sustainability, productivity and profitability.
More than 130,000 farm businesses now use Hectare’s solutions, making it one of the largest global networks of agricultural businesses. By directly connecting everyone in the supply chain through its digital solutions, Hectare is solving the invisible inefficiencies in the farm to factory gate supply chain.
In 2022, Hectare’s technology enabled farm businesses to optimise the trading of livestock, improving animal welfare and reducing the carbon footprint of the beef and sheep supply chain by 2.5m livestock miles.
Jamie McInnes, CEO of Hectare, said, “The toughest challenges to solve are often the ones you can’t see, even for those of us who are involved in the movement of crops and livestock day-in, day-out.
“Our aim is to solve the invisible problems in the food supply chain by creating connected digital solutions that enable everyone to make small, practical changes – from sourcing grain more locally to digitising paper-based processes like invoicing – to help hit big goals.
“Whether the focus is enhanced animal welfare or peace of mind on food sustainability and security, our vision is to create a connected farm to factory gate supply chain so crops, livestock and customers are looked after through sustainable agriculture.”