E-FARM receives 11 million euros in new financing round
E-FARM, a trading platform for used agricultural machinery, has received a total of 11 million euros in a Series B financing round. Participants include Swedish investment firm byWiT, Amathaon Capital from Munich and agricultural machinery manufacturer Claas, which has been supporting the startup for years.
E-FARM makes sales in the double-digit million range
E-FARM was founded by Nicolas Lohr in Hamburg in 2015. The startup was able to win Claas, one of the world's leading agricultural machinery groups, as its first investor in 2019. The company itself operates the used machinery business, which is why there are beneficial synergies for both sides. In September 2020, E-FARM was able to announce its first major financing round of 4.5 million euros, at that time also with the participation of Claas and byWiT as well as an undisclosed AgTech investor.
E-FARM is an international digital trading platform for used machinery and equipment from the agricultural sector. When founder Nicolas Lohr started to put his idea into practice, he felt that the existing options for buying and selling such products were characterised by non-transparent prices, defects, trading difficulties and, in some cases, even fraud. As an alternative, he aimed for a business model with personal service, payment and transport security, cost efficiency, and a neutral machine inspection including warranty options. The concept has proved successful, and E-FARM now employs more than 60 people and generates annual sales in the mid-double-digit millions.
