Autoagri

Autoagri

Autonomous and electric implement carriers (tractors) for agriculture and general use.

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NOK11.0m

Valuation: NOK40.0m

15.7x EV/Revenue

Early VC
Total Funding000k

Financials

Estimates*

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Revenues, earnings & profits over time
EUR2018201920202021202220232024
Revenues0000000000000000000000000000
% growth-500 %500 %(75 %)511 %(39 %)(15 %)
EBITDA0000000000000000000000000000
% EBITDA margin--(2 %)(55 %)(32 %)--
Profit0000000000000000000000000000
% profit margin(20 %)(22 %)(3 %)(67 %)(38 %)(105 %)(82 %)
EV0000000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget0000000000000000000000000000

Source: Company filings or news article

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More about Autoagri
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AutoAgri AS, established in 2019, is a Norwegian technology firm focused on the agricultural sector, specifically in the development and manufacturing of autonomous implement carriers. The company originated from a project initiated in 2017 by a group of farmers and entrepreneurs, including Jostein Susort, who sought to create a lighter, more efficient alternative to conventional tractors to mitigate soil compaction and reduce operational costs. The founders' direct experience with the challenges of modern farming underpins the company's strategic direction. AutoAgri's core offering is an autonomous, electric-powered implement carrier designed to perform a variety of agricultural tasks such as sowing, harrowing, and fertilizing. This modular platform addresses the agricultural market, targeting farmers and contractors who are looking to enhance operational efficiency and adopt more sustainable farming practices.

The business model appears to be centered on the direct sale of these autonomous units. The company's revenue stream is generated through the manufacturing and sales of its specialized agricultural machinery. The AutoAgri implement carrier distinguishes itself with several key features. It operates with either a fully electric or a plug-in hybrid electric vehicle (PHEV) drivetrain, which contributes to lower emissions compared to traditional diesel tractors. Its lightweight design, weighing approximately 2500 kg, is a critical element in reducing soil compaction, a significant issue in modern agriculture that can negatively impact crop yields. The vehicle is equipped with a standard Category 2 three-point hitch, power take-off (PTO), and hydraulics, making it compatible with a wide range of existing farm implements. By enabling autonomous operation, the system allows for more flexible and efficient use of labor, as one operator can potentially manage multiple units simultaneously.

A significant milestone for the company was the unveiling of its first prototype in 2021, followed by the delivery of its first commercial unit to a customer in the spring of 2023. AutoAgri has established a production facility in Klepp, Norway, to scale its manufacturing capabilities. The company has also engaged in strategic partnerships, including a collaboration with the Swedish agricultural cooperative Lantmännen for testing and development, indicating a strong connection to the needs of its end-users. This collaboration aims to evaluate the machine's performance in real-world farming conditions, focusing on its potential for precision agriculture and sustainability.

Keywords: agricultural technology, autonomous vehicles, electric tractors, soil compaction, precision farming, sustainable agriculture, farm machinery, implement carriers, agritech, robotics

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