OneSoil, an ag-tech startup from Belarus that uses data and machine learning to increase agricultural productivity, announced it raised $500,000 in Seed round led by Haxus, a venture fund that specializes in AI, and joined by Yuri Melnichek and Leonid Lozner, angel investors.
“Today, agriculture is a $3 trillion industry ripe for innovation. By 2050, about 10 billion people will inhabit the planet, while only 40% of its land will be suitable for farming; and climate change challenges are not making things easier. Technology can help cut farming costs, as well as produce healthier products and cleaner water, making it a win-win for both producers and consumers. Haxus is excited to join the ag-tech revolution together with the bright minds of OneSoil team,” - says Yuri Gurski, Founding Partner at Haxus.
Slava Mazai, Usevalad Henin, and Sasha Yakovlev, co-founders of OneSoil, identified the market potential early on, which helped them stay ahead of the game. “The time needed for data collection and analysis is the main entry barrier for new players, which puts us in a really favorable position. It took us 3 years to collect tens of millions of data points from the fields and to create our algorithms and models for data processing, as well as proprietary hardware for data collection. We’re now ready to make a change,” - says Slava Mazai, co-founder and CEO at OneSoil.
“In Belarus, an average farmer overpays about $400 000 per 10,000 hectares. The number can get much higher for Western Europe or North America. By using precision farming, about 20% of costs can be cut. Data-driven decisions is the inevitable future of agriculture that we are building right now”, - shares Usevalad Henin, co-founder and Chief Science Officer at OneSoil.
The investment money will go towards developing a new revolutionary agtech solution and accelerating the development speed. Founders refuse to disclose the exact plans, but promise to introduce something unprecedented for the market in the near future.
Legal assistance to the investment round was provided by Aleinikov & Partners law firm.Back to the news