# Agronet Hungary Kft.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/agronet-hungary-kft

- Industry: Agribusiness
- Headquarters: Kaposvar, Hungary
- Website: www.agronet.hu
- Total disclosed funding: $0M
- Latest round: Seed (Jan 25, 2018)
- Investors on record: 1

## About

Agronet Hungary Kft. provides advanced GNSS solutions specifically for precision agriculture, enhancing farming efficiency through a full constellation of Continuous Operating Reference Stations in Hungary.Founded in 2016 and headquartered in Kaposvár, Hungary, Agronet Hungary Kft. specializes in GNSS solutions for precision agriculture. The company was established by Tamás Farkas and Victor Umeh and has received funding from Hiventures. It raised a total of EUR 0.020 million in its Seed funding round on January 25, 2018, primarily targeting agricultural enterprises with its innovative services.Agronet specializes in providing advanced GNSS (Global Navigation Satellite System) solutions tailored for precision agriculture. The company's core offering is its full constellation CORS (Continuously Operating Reference Stations) network, which delivers centimeter-level accuracy across Hungary. This network is designed specifically for agricultural partners, facilitating the integration with automated steering systems such as CHCNAV, FJDynamics, SunNav, Trimble, and Topcon. The service enhances operational efficiencies in farming through real-time GNSS VRS (Virtual Reference Station) RTK (Real-Time Kinematic) capabilities, which are vital for tasks such as crop mapping, field navigation, and data collection. The company primarily serves agricultural enterprises within Hungary, ensuring comprehensive coverage and support for modern farming practices.Agronet operates on a subscription-based revenue model, offering various service plans that cater to the needs of its clients in the agricultural sector. In 2022, the company reported no revenue with an EBITDA of EUR -453.2. The company generates revenue through annual and monthly subscriptions for its GNSS services, facilitating access to real-time positioning data essential for precision farming. This structure fosters long-term partnerships, as clients benefit from continuous technical support and updates, while revenue streams may also include partnerships with hardware providers such as CHCNAV and Trimble.Agronet Hungary Kft. aims to leverage its Seed funding of EUR 0.020 million raised in January 2018 to develop new products that enhance their GNSS offerings. The company plans to expand its market reach beyond Hungary into neighboring countries by 2025, focusing on regions that demonstrate a growing adoption of precision agriculture technologies. The recent funding will support product development and marketing efforts necessary for successful entry into these new markets.

## Funding rounds

- Seed, Jan 25, 2018, $0M — Hiventures

## Investors

- Hiventures (https://capitalatlas.ai/funds/hiventures) — Seed