We are thrilled to announce that we has successfully raised $7 million in a Series A funding round led by Rural Funds Group. This marks a significant milestone for us, as it’s our first external funding round since we were founded 12 years ago. Until now, we’ve been proudly bootstrapping our growth.
This new investment will help us accelerate our ongoing expansion and further develop our innovative technology solutions. We don’t anticipate needing additional funding in the near to medium term, as this capital will drive substantial growth, and we plan to reinvest the profits generated to create even more value for our investors.
As Steve Lockyer, our Managing Director, shared with SmartCompany, “We’ve been a profitable business from the start, and this funding will allow us to scale faster. By reinvesting the profits, we can reduce the need for further capital raises in the short term and deliver greater value to our investors.”
Since our founding in 2012 by Jennie Savill, we’ve been committed to creating technology solutions that empower farmers and agribusinesses. Our products are designed to improve efficiency, reduce costs, and enable data-driven decision-making in agriculture. This funding comes on the heels of an incredible year for us, with a 300% increase in revenue compared to the previous financial year.
The investment will be used to scale our operations, enhance our product development, and strengthen our customer support as we prepare to bring new innovations to market. We’re particularly focused on expanding the capabilities of our GrowData Ops platform and adding new features to our GrowData Irrigate and Track solutions.
Looking ahead, our ultimate goal is to fully automate key farm operations, allowing farmers to manage their properties remotely from anywhere in the world. This will not only boost efficiency but also help address labor shortages, making them a thing of the past. Over the next three to five years, we aim to become the undisputed leader in irrigation automation, harvest yield data, and farm software, offering unmatched functionality and value.
Domestically, we’re expanding into new regions, including Sunraysia, NSW Riverina, South Australian Riverland, Adelaide wine regions, and North Queensland. Internationally, we’re setting our sights on the United States, targeting permanent horticulture markets in key areas such as Southern California, Florida, and Washington State.
“This is an exciting new chapter for us,” said Steve Lockyer. “The investment from Rural Funds Group not only validates our vision and the progress we’ve made but also provides the resources we need to scale our operations and bring innovative products to market faster.”
Over the next few years, we plan to grow our presence in both domestic and international markets, particularly in regions where agricultural technology is advancing rapidly. We’re also exploring potential partnerships and acquisitions to support our growth strategy.
As part of this funding announcement, we’re pleased to welcome David Bryant and Stuart Kilduff to our board of directors. David Bryant, Managing Director of Rural Funds Management, commented, “RFM has been a customer of Inform Ag for two years as we develop 3,000 hectares of macadamia orchards in Queensland. We’re excited to support their continued growth and innovation.”
We’re incredibly excited about the future and the opportunities this investment brings. Our focus remains on delivering cutting-edge solutions that transform agriculture, making it more efficient, sustainable, and accessible for farmers everywhere.
