Queensland Agtech Inform Ag harvests $7 million in Series A

Queensland agtech startup Inform Ag has raised $7 million in a Series A funding round led by Rural Funds Group. This is the company’s first funding round after 12 years of bootstrapping.

The new investment is expected to support Inform Ag’s ongoing growth and assist in further development of its technology offerings. According to the startup, there are no further plans to raise again in the short- to medium-term

“The business is and was already profitable in its own right. The funds raised are seen as sufficient to accelerate growth, the profits from which will then largely be reinvested reducing the need for further raises in the short term and creating added value for the existing investor set,” Steve Lockyer, managing director of Inform Ag, said to SmartCompany.

Founded in 2012 by Jennie Savill, Inform Ag has focused on developing technology solutions for farmers and agribusinesses to help their operations.

Its products have been designed to improve efficiency, reduce costs, and enhance data-driven decision-making in agricultural practices. The new funding follows a year of significant revenue growth for Inform Ag, with the company reporting a 300% increase over the previous financial year.

According to Inform Ag, the investment will be used to scale operations, enhance product development, and strengthen customer support as the company seeks to bring new products to market.

On the product side, it will be focusing on its GrowData Ops platform and adding further functionality to its GrowData Irrigate and Track offerings.

“The ultimate ambition is such that we will one day be able to fully automate all of the key operations on the farm allowing farmers to operate their properties from anywhere in the world, increasing efficiency and making labour shortages a thing of the past,” Lockyer said.

And in three to five years Lockyer hopes the business will be the “undisputed market leader both from a function and price perspective in irrigation automation, harvest yield data and farm software”.

Domestically, Inform Ag will be focusing on new areas such as Sunraysia, NSW Riverina, South Australian Riverland, Adelaide wine regions and North Queensland.

It is also specifically looking to push into the US, targeting permanent horticulture in key growing regions such as Southern California, Florida and Washington State.

“We are incredibly excited about this new chapter in Inform Ag’s journey,” Lockyer said to SmartCompany.

“The investment from Rural Funds Group not only validates our vision and the work we’ve been doing but also provides the resources needed to scale our operations and bring innovative new products to market more rapidly.”

“It provides us with the resources to scale our operations and bring new innovations to the agricultural market more quickly.”

Inform Ag has set its sights on further growth over the next three to five years. The company plans to increase its presence in both domestic and international markets, with a focus on regions where agricultural technology is rapidly developing.

The startup is also considering potential partnerships and acquisitions to complement its growth strategy.

Alongside the funding announcement, Inform Ag has welcomed David Bryant and Stuart Kilduff to its board of directors.

“RFM has been a customer of Inform Ag for two years as it develops 3,000 hectares of macadamia orchards in Queensland,” David Bryant, managing director at Rural Funds Management, said.

“We’re pleased to make this financial investment which will be used to support Inform Ag’s growth, as well as working alongside their team for further product development.”

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