SK Networks invests $2 million in AI smart farm startup ‘Source.ag’

SK Networks has decided to invest in the Dutch AI-based smart farm startup ‘Source.ag’.

On the 8th, SK Networks announced that it will invest $2 million (approximately 2.6 billion KRW) in the Series A round raised by Source.ag, a smart farm Software as a Service (SaaS) company, through its US investment corporation Highco Capital.

Headquartered in the Netherlands, Source.ag is a company developing greenhouse automation solutions applying AI technology. Despite being at the Series A stage, its excellent technological capabilities have already been validated to the extent of product commercialization. It has formed partnerships with leading global indoor agriculture technology companies such as Priva and Ridder, as well as large corporate farms like Agro Care and Rainbow Growers Group, leading agricultural innovation.

Source.ag is particularly noted as the first company to introduce an AI model that derives optimized farming methods and results tailored to farms. The solution developed by Source.ag uses AI to recommend the optimal sowing time and location, pruning strategies, and suggests appropriate growth environments and harvest timing. Based on this, it also predicts expected yields and profits. This can lead to increased operating profits through cost reduction and production expansion.

Additionally, in the second half of this year, Source.ag plans to launch ‘Source Cultivate,’ which applies ‘digital twin’ technology to smart farms to simulate plant growth and predict resource usage and harvest yields required for cultivation. This solution is expected to help maximize farm yields based on optimized information for each crop type. Source.ag also plans to develop programs equipped with functions such as workforce management and pest control, aiming to achieve agricultural innovation through labor efficiency, water conservation, and reduced use of chemicals.

SK Networks decided on this investment because it judged that the smart farm market has high growth potential and that Source.ag’s technology will enhance sustainability in the agricultural sector in the future. A representative from SK Networks explained, “Source.ag possesses top-level competitiveness even in the Netherlands, a leading country in smart farming, and due to the SaaS model’s nature, which facilitates business expansion, it is a startup with high potential for active global expansion.”

Lien Carmen, CEO and co-founder of Source.ag, said, “We are pleased that SK Networks is joining us in our mission to advance agriculture,” adding, “Our goal is to efficiently utilize resources and produce crops sustainably, and we will accelerate research to develop more reliable and environmentally friendly solutions.”

This content was produced with the assistance of AI translation services.