Brazilian startup Agrointeli received a contribution of R $ 520,000 from funds GVAngels, an angel investor group formed by FGV alumni and ACE Startups. The company, which serves companies like Gerdau, offers a kind of "operating system" for farmers. The money will be used for technology investments and sales staff
With 170 areas monitored across the country, Agrointeli is present in 12 Brazilian states. Renato Borges, one of the company's founders and current CEO, says the deal came about after seeing the family of farmers go through management problems on their farms. With a degree in computer engineering, Borges has developed an online monitoring system that tracks crop-to-crop cultivation and assists growers in decision making.
“As an engineer and son of farmers, I realized that my background could help solve everyday problems. I combined the pain with my expertise, ”says the businessman. Officially launched in 2017, the company had already received $ 320,000 in investment rounds along its trajectory. “I think this is the right time to bring venture capital to Brazilian agribusiness,” says Borges.
GVAngels member Ricardo Gentil met the startup during a forum this June. According to the investor, the potential for scalability was what drew the most attention and so the group decided to make its first contribution to a startup focused on agribusiness.
For ACE, Agrointeli takes advantage of the moment of digitization of Brazilian agribusiness. "Increasingly, small farmers are looking for digital transformation and they will need support. That's where Agrointeli comes in," says Arthur Garutti, a partner at ACE.