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A share of agricultural industry in a country’s GDP is a good indicator of how well the country is doing in its economic development. Back in 2006 (yes, a little old stats but have things changed a lot?) Croatia’s share in GDP was a substantial 7,4 percent. In a poverty-stricken Moldova this figure is 18 percent and in innovation-driven Germany it is only 1 percent.
We do not know too many startups from Croatia, but today one of them, and I think it is safe to say one of the few, announced closing a Series A funding round, raising $1.4 million from Lee Hower of NextView Ventures and Jeff Clavier of SoftTech VC. (previously ShoutEm raised $1.2 million from RSG Capital). It is Farmeron, which offers farmers an easier way to track performance of their farms, in a gorgeous cloud-based ERP system.
The service connects various data fed by the farmers’ machinery into a web-based metrics and into specific animals’ profiles. This helps track the weight gain, feed stats, milking schedule, food inventory and many more parameters that farmers can use to keep track of their business performance.
In Croatia there are no established venture capital firms, although Crane (CRoatian Angel NEtwork) brings together tech entrepreneurs and local business angels. So Farmeron had to go through Seedcamp and 500 Startups to get to the fundable stage.
Founded by Matija Kopić fresh out of the university, Farmeron has first raised $15,000 in 2010, then got Seedcamp Week prize of Euro 25,000 in 2011, followed by an undisclosed investment by Dave McClure’s 500 Startups.
A cool post about Farmeron by GigaOm is here (I like the “Gulp!” part).
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