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This article was published on September 10, 2010

    Agworld closes $1.5M round for cloud-based agricultural collaboration technology

    Agworld closes $1.5M round for cloud-based agricultural collaboration technology
    Kim Heras
    Story by

    Kim Heras

    Kim Heras is a Sydney-based technology writer and entrepreneur. His passions include the Australian startup industry, innovation and the Kim Heras is a Sydney-based technology writer and entrepreneur. His passions include the Australian startup industry, innovation and the web as an enabler of change. You can follow Kim on twitter - @kimheras

    Agworld, a Perth, Australia-based  provider of cloud-based technology solutions to the Agricultural industry, has closed an AUD$1.5 Million (US$1.4M) dollar investment round with Perth-based venture capital firm Yuuwa Capital.

    The Agworld platform connects the various players in the Agricultural industry and provides robust capture, storing and sharing of information anywhere, anytime.

    While there are other solutions in the market, the appeal of Agworld would appear to be that it has been built specifically with the agricultural market in mind. With Australia’s position as one of the world’s largest agricultural exporters it’s clear that there is massive potential both locally, and abroad (as an exporter of expertise), for the company.

    Interestingly though, Yuuwa Capital investment director Matthew Macfarlane sees opportunities for Agworld outside of the agricultural industry:

     “We invest in early stage companies with substantial market potential. We are impressed by the quality of the management team and by the attention put on customer requirements in the technology built by Agworld. The early customer adoption has been impressive and opportunities exist to expand this platform to other industries that require robust data-capture capabilities in the field.”

    This is the second recent investment from Yuuwa, who seem to be single-handedly maintaining the Australian early stage VC market at the moment.

    The first was “intelligent video surveillance software” company iCetana.  The company, which is commercialising technology developed by Curtin University, closed an AUD$1.2M round with Yuuwa in April this year.