Hungarian agtech Proofminder receives €400k round from Impact Ventures

The Budapest-based agtech startup Proofminder that provides a leaf-level farming platform has received €400,000 from Impact Ventures. With the fresh round, the startup aims to start the global expansion.

• Proofminder was launched in 2021 by Ambrus Vancso, Norbert Havas, and Levente Simon. Proofminder’s platform provides various micro-level actionable insights on plant, including plant stress, stand count, weed detection, nitrogen or weather damage analysis, precise yield assessment. The startup claims it help growers estimate, calculate and improve all that visible on the field across the season. 
• Among the startup’s clients are such companies as MAS Seeds and Bonafarm Group. To date, it has already covered over 1000 ha by involving partners like drone operators in the monitoring process.
• The investment round was led by the Budapest-based VC fund Impact Ventures. It focuses on supporting and investing in social SMEs in Europe with strong growth potential, addressing areas of social inclusion, education, employment, health and environmental sustainability.
• Proofminder aims to scale up its solution and to multiply the annually covered arable land by 10, covering diverse plant types like for example field crops, orchards and trees. Also, it plans to increase a 10x growth in revenue.