"Given the impact of the war in Ukraine on the entire agricultural sector, the decision to file for preliminary insolvency was the best option to continue operations and preserve jobs. Our team is very well-equipped to handle this phase, and we are currently working intensively on solutions to stabilize the company."
explained Jonathan Bernwieser, founder and CEO of Agrando, told Munich Startup.
On its website, Agrando also states that business operations are continuing without restrictions. The so-called preliminary insolvency procedure is a common practice in Germany to initiate early steps to secure and restructure a business. According to information from deutsche-startups.de The startup has appointed lawyer Axel Bierbach as insolvency administrator.
Agrando connects players in agricultural trade
The startup operates an independent platform that connects all players in the agricultural trade, both regionally and nationwide. For example, agricultural businesses can purchase inputs such as seeds and pesticides tailored to their region. For retailers and manufacturers of inputs, the platform serves as an additional sales channel or even a gateway into online trading. Agrando claims to offer the largest online catalog for agricultural inputs in German-speaking countries. Furthermore, the startup supports farmers, agricultural traders, and manufacturers in their day-to-day operations with data-driven analyses and industry-specific, personalized consulting.
Agrando's investors include Yabeo Impact, the impact fund of early-stage investor Yabeo, which led the Series A. Other investors include Sony Innovation Fund, Investbridge, technology VC June Fund, and London-based family office JLR Star.
Agrando was founded in 2017 by Jonathan Bernwieser and Jonas Hueber. In an interview with Munich Startup, Bernwieser last year:
"Around 1,000 new farmers register on the platform every month (total number of registered farmers: over 20,000). The Agrando team has tripled in size every year since its founding, and today we have 170 employees. In 2020, we expanded to Austria, and in 2021, we launched our French market."
