SK Networks has seen the enormous potential of “Source.ag,” a trailblazing Dutch firm that uses artificial intelligence to empower producers all over the world.
SK Networks has said that it decided to contribute $2 million in the Series A capital round of $27 million for Source.ag through its US investment firm, Hico Capital, with a strategic objective in mind.
By arming growers throughout the world with AI, Source.ag, a Dutch company, is expediting access to fruits and vegetables. The company has already shown exceptional competence, enabling successful product commercialization.
Through strategic alliances with market leaders in the indoor agricultural technology space, including as Priva, Ridder, Agro Care, and Rainbow Growers Group, the company is at the forefront of agricultural innovation.
For its accomplishment in creating the first-ever AI model that provides optimized farming practices and results for agricultural businesses, Source.ag has received widespread praise. Their ground-breaking approaches make use of AI technology to provide insightful recommendations on the best times to plant, use tactical pruning, provide the best growing conditions, and even when to harvest.
Based on this foundation, the method provides accurate forecasts of anticipated yields and revenues. Farmers can tap into the potential to boost their operating profitability by taking advantage of Source.ag’s wide capabilities, which include cost-reduction strategies and the growth of production capacity.
The new “Source Cultivate” module from Source.ag will debut in the second part of 2023. Source Cultivate is able to model plant biology and forecast projected resource use and yield for every week by using a digital twin of a greenhouse facility. The fact that this cutting-edge technology is tailored to particular cultivars enables farmers and cultivators to enhance crop yields.
Additionally, Source.ag is actively investigating the creation of applications that will include functions for illness prevention and personnel management. These initiatives are a part of the larger agricultural innovation strategy, which aims to increase worker productivity, conserve water, and use less chemicals.
After carefully examining the significant development opportunities in the smart farm market and seeing the potential of Source.ag’s technology to improve the long-term viability of the agricultural industry, SK Networks decided to make the investment. According to a representative of SK Networks, Source.ag has strengthened its position as a major player in the Netherlands, a leader in smart farming. It has a lot of potential to enter the worldwide market successfully as a company with a scalable SaaS strategy.
The official stressed that this investment goes beyond the basic goal of boosting daily comfort and is in line with SK Networks’ commitment to solve global social and economic disparities as a gatekeeper in the world of global innovation.
The CEO and co-founder of Source.ag, Rien Kamman, expressed his excitement for SK networks’ support of the company’s goal of empowering growers worldwide. We will use these funds to accelerate our research and introduce new products that will enable growers worldwide to produce more healthy food, for more people, in a safe, dependable, and climate-resilient way. We are on a mission to feed our planet’s growing population in a durable, resource-efficient, and healthy manner.
With this latest investment, SK Networks has expanded its focus on agricultural technology to encompass smart farms. This follows its investment in the self-driving agricultural machinery startup “Sabanto” in the previous year. Sustainability, digital transformation (DT), and Web3 will be given priority in line with the company’s future strategic orientation, and its investment portfolio will be further refined using a strong network of high-quality investments and thorough management procedures.
