Consentio, the AgriTech platform that connects food growers and farmers with retailers, has closed a financing round of €4.5 million led by Mundi Ventures, an international Venture Capital fund that invests in Europe, the US, Israel, and Singapore, based in Madrid. The round also saw participation from Hambro Perks, the London-headquartered international investment firm focussed on private technology investing, and Label Investments, the investment vehicle of Alexandre Darbonne specialized in the Agriculture sector that is very active in Mexico and in the United States.
The company offers a digital platform to simplify and accelerate existing sales processes by improving communication between suppliers and buyers in the fruit and vegetable sector. The technology has clearly proven its value during the pandemic as companies in the food supply chain, from producers, wholesalers, to supermarkets, have needed to reduce their operating costs to quickly adapt to new market conditions.
Consentio saw orders triple on the platform last year and with a gross merchandise value reaching €140 million and is on target to reach €1 billion in the next 12 months.
With this new investment round, the company intends to accelerate its growth in the United States, France, the Netherlands and Spain, countries in which it is already present, and to expand its current workforce by 50%.
French entrepreneur, co-Founder and CEO of Consentio Vincent Rosso said: “We are happy to have new partners and talented people to consolidate our leadership as a technology company in the fruit and vegetable sector in particular and fresh food in general”.
In addition to providing more transparency and efficiency, Consentio can help clients reduce food waste by between 15 and 20%. Rosso added: “The fight against waste is one of Consentio’s priorities. 30% of the total food produced in the world is wasted every year, representing 8% of the global greenhouse gas emissions”.
Javier Santiso, founder and CEO of Mundi Ventures said: “We have seen the evolution of Consentio, perfectly executed by Benoit and Vincent. In the last two years we have seen the fragility in the food supply chain. In addition to a great team, Consentio is a perfect example where digitization helps an industry to modernize and at the same time adapt to the essential sustainability goals for 2030, fighting against waste throughout the food chain. It is a clear example of technological investment focused on solving major global challenges”.
Tom Bradley, Partner at Hambro Perks added: “Consentio solves a global problem by digitizing the industry that feeds us. We seek to back leaders and we have been impressed with the team’s execution, and Vincent and Benoit’s ambition to make Consentio a leader in its market. We are convinced that they have the right model and team to achieve it, while also helping the industry achieve sustainability goals”.
Alexandre Darbonne, founder, and CEO of Label Investments affirms: “Consentio has the potential to become the digital platform of the fruit and vegetable commerce at a global scale, and to disrupt the commercial relationship between suppliers and retailers.”