Second Round of $4.5M Funding to Scale SaaS for PowWow, Now AgMonitor

By Business Wire

Agmonitor Inc. (formerly PowWow Energy Inc.) has announced $1.5M in new private investments provided by SaaS leading expert and multi-generational farmers.

As with the company’s 2016 Seed round, this second round of financing was complemented by a grant of $3M from the California Energy Commission to further develop irrigation scheduling and mobile application features and help underserved farming communities. AgMonitor will present at the EPIC Symposium on October 20 on how to apply technology to help build a water resilient food system.

Said company’s Founder and CEO Olivier Jerphagnon, “The name change represents the simplicity of our AI platform, which now covers water, energy, and crop management — especially valuable in uncertain times. The platform works well, driving strong results in installations over 100,000 acres on a diversity of crop types.”

Closing this round during the 2020 pandemic was enabled by the company’s reassuring steady growth. It supports the necessary digital transformation that farms and food processors have undergone to increase profits under the constraints of industry uncertainty.