Temasek and Aliment Capital lead €60m Series B for Agriconomie

Temasek, Treïs and Aliment Capital – formerly Pontifax AgTech – have co-led a €60 million Series B for French agricultural supplies and e-commerce platform Agriconomie.

The company provides an integrated service to suppliers and farmers, with tools ranging from ag purchasing trends data, a grain marketplace and sustainable farming transition advisory, among others.

Agriconomie was founded in 2014 and is present in France, Germany, Italy, Spain and Belgium. The company plans to use the capital to expand further and “pursue its ambition to become the European leader in online agro-distribution,” a statement said.

Aliment Capital managing partner Ben Belldegrun told Agri Investor: “Agriconomie has an industry-leading product catalog of cover crop seeds and biological crop inputs, and through its environmental sustainability action plan intends to be the European leader in the organics and regenerative inputs market, the highest growth segment in agriculture.

“The environmental action plan includes the promotion of organic products, regenerative agriculture consultancy and associated advisory services, carbon measurement and trading services, and general support to farmers in transitioning to more sustainable agricultural practices. Therefore, Agriconomie will play a major role in accomplishing the European Green Deal’s goal to have at least 25 percent of the EU’s agriculture land under organic farming by 2030.”

The company’s seed offering is almost 35 percent organic, confirmed Belldegrun, with sustainable agriculture representing 10 percent of its revenue.

Agriconomie becomes the sixth portfolio company in Aliment’s $302 million Fund II, which is roughly 45 percent deployed.

“Our capital deployment pace and pipeline opportunities suggest that we will be ready to launch our Fund III fundraise in 3Q/4Q 2023 after some additional portfolio commitments early next year,” said Belldegrun. “We expect to be in the market deploying fund III in 2024.”